Deals6 Feb 2025, 10:51 pm
NTPC Green Energy Ltd forms 50:50 Joint Venture with Andhra Pradesh Govt Undertaking
AI Summary
NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has incorporated a joint venture company, AP NGEL HARIT AMRIT LIMITED, on 06.02.2025. This new company is a 50:50 joint venture between NGEL and New & Renewable Energy Development Corporation of Andhra Pradesh Limited, a Government of Andhra Pradesh Undertaking. The objective of the company is to explore development of renewable energy projects, produce green hydrogen, and develop pump hydro projects up to 10 GW capacity.
Key Highlights
- NTPC Green Energy Ltd and New & Renewable Energy Development Corporation of Andhra Pradesh Limited form a 50:50 joint venture company, AP NGEL HARIT AMRIT LIMITED.
- The new company aims to explore development of renewable energy projects, produce green hydrogen, and develop pump hydro projects up to 10 GW capacity.
- The joint venture company has been incorporated on 06.02.2025 in India.
- NTPC Green Energy Ltd holds 50% shares in the joint venture company.