Joint Venture26 Nov 2024, 09:52 pm
NTPC Ltd. and MAHAGENCO Form a 50:50 Joint Venture for Renewable Energy Park Development
AI Summary
NTPC Ltd. and MAHAGENCO have incorporated a new joint venture company, MAHAGENCO NTPC Green Energy Private Limited (MNGEPL), on 25.11.2024. The joint venture is formed to develop, operate, and maintain Renewable Energy Park(s) in Maharashtra under UMREPP and allot the Park(s) for development of Renewable Energy Project(s). NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Ltd., has subscribed 50,000 equity shares at the face value of 210 each. The Ministry of Power (MOP), Govt. of India, has conveyed their approval for the formation of the JVC between NGEL and MAHAGENCO.
Key Highlights
- Incorporation of MAHAGENCO NTPC Green Energy Private Limited as a 50:50 joint venture between NTPC Green Energy Limited and Maharashtra State Power Generation Company Limited
- The joint venture aims to develop, operate, and maintain Renewable Energy Park(s) in Maharashtra under UMREPP
- NTPC Green Energy Limited has subscribed 50,000 equity shares at the face value of 210 each
- The Ministry of Power, Govt. of India, has approved the formation of the joint venture
- The joint venture company, MNGEPL, is based in India