This MoU establishes a partnership between MPPGCL and NTPC Green Energy in the renewable energy sector. The collaboration aims to develop renewable energy projects, including solar, wind, and hybrid systems (with or without storage), with a total capacity of up to 20 GW or more in Madhya Pradesh.
As part of the agreement, MPPGCL and NGEL will work together to form a Joint Venture Company (JVC) to meet MPPGCL's Renewable Generation Obligation (RGO) and fulfill the Renewable Purchase Obligation (RPO) of the Madhya Pradesh Distribution Companies (DISCOMs).
NTPC Green Energy (NGEL), promoted by ‘Maharatna’ central public sector enterprise NTPC, is the largest renewable energy (excluding hydro) public sector enterprise in terms of operating capacity.
NTPC Green Energy listed on the bourses on 27 November 2024. The scrip was listed at Rs 111.60, exhibiting a premium of 3.33% to the issue price.
The company reported an 18% jump in consolidated net profit to Rs 65.61 crore in Q3 FY25 as against Rs 55.61 crore posted in Q3 FY24. Revenue from operations grew by 13.2% YoY to Rs 505.08 crore in the quarter ended 31 December 2024.