New Delhi, Feb 28 (PTI) NTPC Green Energy Ltd (NGEL) has signed a pact with Maharashtra State Power Generation Company Ltd to set up a joint venture company to develop renewable energy parks in Maharashtra, a statement said on Wednesday.

The JV Company shall develop GW-scale RE park and projects in a phased manner, thereby realizing the green energy objectives of NTPC and the GOI's efforts towards energy transition, an NTPC statement said.

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NTPC Green Energy Ltd is a subsidiary of state-run power major NTPC. The fully owned subsidiary has been formed to take up Renewable Energy Parks and Projects including businesses in the area of Green Hydrogen, Energy Storage Technologies, and Round the Clock RE Power.

The NTPC Group has ambitious plans for 60 GW of RE capacity by the year 2032. Currently, it has 3.4 GW of installed renewable energy capacity and more than 22 GW under pipeline.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)