New Delhi, Jul 2 (PTI) State-run power giant NTPC's arm, NTPC Renewable Energy Ltd ( NREL), has signed a memorandum of understanding (MoU) with the Rajasthan government to develop 10 GW ultra mega renewable energy power parks (UMREPP) in the state.

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The power PSU in a statement said that NTPC Group has set a target of 60 GW renewable energy capacity by 2032.

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"As a step towards achieving this target, the NTPC Renewable Energy Ltd (NTPC REL), a wholly-owned subsidiary of NTPC, has signed a memorandum of understanding (MOU) with Government of Rajasthan for development of 10 GW Ultra Mega Renewable Energy Power Park in Rajasthan," the statement said.

The company said that in less than 2 years since its inception, NTPC REL has won 4 GW renewable energy capacity by bidding in various tenders which are under different stages of implementation.

Additionally, NTPC REL is developing one UMREPP of 4.75 GW capacity in Rann of Kutch, Gujarat, and NTPC REL has also entered into a joint venture agreement with DVC for developing RE parks and projects.

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