NTPC Green Energy Limited (NGEL) shares jumped 4% after signing a Memorandum of Understanding (MoU) with Madhya Pradesh Power Generating Company Limited (MPPGCL) to develop 20 GW renewable energy projects in Madhya Pradesh. As of 9:17 AM, the shares were trading 1.26% higher at Rs 99.64.
The MoU was exchanged during the Global Investors Summit 2025 in Bhopal, in the presence of Madhya Pradesh CM Dr. Mohan Yadav and NTPC CMD Gurdeep Singh. This strategic partnership will focus on solar, wind, and hybrid energy projects, with or without storage solutions, helping the state fulfill its Renewable Generation Obligation (RGO) and Renewable Purchase Obligation (RPO).
By forming a Joint Venture Company (JVC), NGEL and MPPGCL aim to boost clean energy adoption, enhance power availability, and attract large-scale investments to Madhya Pradesh’s renewable sector. The initiative is expected to create local employment opportunities while positioning the state as a key player in India’s green energy transition.
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