NTPC Green Energy Limited (NGEL) and Chhattisgarh State Power Generation Company Limited (CSPGCL) signed a Joint Venture Agreement (JVA) during the Chhattisgarh Energy Investors Summit in Raipur. The partnership aims to develop renewable energy projects in Chhattisgarh and other identified locations, with a focus on solar, wind, hybrid, and floating solar projects.
The joint venture company (JVC) will have a shareholding pattern of 74% NGEL and 26% CSPGCL. The JVC’s primary objective is to develop, operate, and maintain renewable energy parks, including ultra-mega renewable energy power parks (UMREPP), with a total capacity of up to 2 GW. Additionally, the JVC will identify reservoirs for floating solar projects, further boosting clean energy initiatives.
The renewable power generated by the JVC will be supplied to CSPGCL, DISCOMs in Chhattisgarh, other DISCOMs, and commercial & industrial (C&I) customers across India. NGEL will appoint three directors to the JVC board, while CSPGCL will appoint one. The initial authorized and paid-up share capital of the JVC is set at ₹10 lakhs, with 1,00,000 equity shares issued at ₹10 per share in a 74:26 ratio to NGEL and CSPGCL, respectively.
