NTPC Green Energy Limited (NGEL) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) have signed a Memorandum of Understanding (MoU) in Lucknow with an aim to collaborate in the development of Renewable Energy Parks and Projects in UP.
The MoU was signed by Mohit Bhargava, CEO (NGEL) and Nidhi Kumar Narang, Director (Finance), UPRVUNL on Wednesday (31 May).
The MoU envisages the two organisations to collaborate through setting up of floating and ground mounted solar projects in the Rihand reservoir, other water bodies and any available vacant land, development of solar PV project dedicated for solarisation of Ayodhya city and setting up of renewable energy parks and projects wherever land is made available, the Ministry of Power said in a statement.
NGEL and UPRVUNL will jointly work for formation of Joint Venture Company (JVC) to meet the Renewable Generation Obligation, Flexibility in Generation and Scheduling of Thermal/Hydro Power Stations through bundling with Renewable Energy and Energy Storage.
NTPC is India’s largest Power Utility, with a total installed capacity of about 72 GW (including JVs and subsidiaries).
As part of increasing its renewable energy portfolio, a fully owned subsidiary “NTPC Green Energy Limited” (NGEL) has been carved out which will take up renewable energy parks and projects including development in the areas of green hydrogen, energy storage technologies and round the clock RE power.
UPRVUNL was constituted to set up and operate Power-generating stations in the state of Uttar Pradesh.
At present UPRVUNL has four thermal power stations within Uttar Pradesh with an installed capacity of 5,820 MW and one thermal power station with installed capacity of 1,320 MW under JV with NTPC.
UPRVUNL is in the process of adding further 3,300 MW capacity with super critical technology on its own and another 1,980 MW in joint venture with CPSEs.
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