Mumbai/Bangalore, June 01, 2023: To collaborate in the Development of Renewable Energy Parks and Projects and to facilitate in Government of India’s efforts towards energy transition, a Memorandum of Understanding (MoU) was signed between NTPC Green Energy Limited (NGEL) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) on 31st May’2023 at NRHQ, Lucknow. The MoU was signed by Shri Mohit Bhargava, CEO (NGEL), and Shri Nidhi Kumar Narang, Director (Finance), UPRVUNL in the presence of Shri P. Guruprasad (IAS), MD (UPRVUNL), Shri Praveen Saxena, Regional Executive Director (NR) of NTPC. Shri V V Sivakumar, GM (NGEL), and other senior officials of NTPC, NGEL, and UPRVUNL were present during the occasion.
The MoU envisages to collaborate in the field of Renewable Energy through the setting up of floating and ground mounted Solar Projects in the Rihand reservoir, other water bodies, and any available vacant land, developing of solar PV Project dedicated to solarization of Ayodhya City and setting up of Renewable energy Parks and Projects wherever land is made available. NGEL and UPRVUNL shall jointly work for the formation of a Joint Venture Company (JVC) to meet the Renewable Generation Obligation, Flexibility in the 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 shall 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 is having four Thermal Power Stations within Uttar Pradesh with an installed capacity of 5820 MW and one Thermal Power Station with an installed capacity of 1320 MW under JV with NTPC. UPRVUNL is in the process of adding a further 3300 MW capacity with supercritical technology on its own and another 1980 MW in a Joint Venture with CPSEs. At present, UPRVUNL is looking to diversify into Renewable Energy and Energy Storage sectors.