Shares of NTPC Ltd rallied after its subsidiary, NTPC Green Energy Ltd (NGEL), signed a Memorandum of Understanding (MoU) with Chhattisgarh State Power Generation Co. Ltd (CSPGCL) to develop up to 2000 MW of renewable energy projects, including floating solar power plants.
As of 9:44 am the shares were trading 1.20% higher at ₹366.00 on NSE.
Key Details of the Partnership:
- MoU Signing Date: November 26, 2024
- Location: Raipur, Chhattisgarh
- Project Scope: Development of floating solar projects and other renewable energy initiatives, marking a significant step in NGEL’s renewable energy expansion.
- Senior Officials Present:
- Shri G. K. Gupta, Chief Engineer (CP & BD), CSPGCL
- Shri D. Joshi, General Manager (Engineering), NGEL
- Shri S. K. Katiyar, Managing Director, CSPGCL
- Shri P. K. Mishra, Regional Executive Director (WR-II), NTPC
Strategic Impact:
The partnership aligns with India’s clean energy goals by leveraging advanced technologies like floating solar projects, which utilize water bodies for sustainable power generation. This collaboration is expected to:
- Boost renewable energy capacity in Chhattisgarh.
- Strengthen NGEL’s position in the renewable energy market.
- Support India’s ambitious renewable energy targets.
TOPICS:
NTPC