NTPC, NREDCAP form JV for 25 GW renewable projects
Author: PPD Team Date: February 11, 2025
NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, and the New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) have formed a joint venture (JV), “AP NGEL Harit Amrit Limited,” to develop 25,000 MW of renewable energy (RE) projects in Andhra Pradesh. Both firms will hold an equal stake in the JV.
The JV will focus on wind, solar, and wind-solar hybrid power projects, with or without energy storage systems (ESS).
Additionally, it plans to develop up to 10,000 MW of pumped storage hydro projects (PSPs).
In November 2024, NTPC and NREDCAP signed a joint venture agreement (JVA) for these projects, with a total planned investment of Rs 2,000 billion.
