NTPC Green Energy Ltd (Ngel), the green energy company of NTPC Limited, has informed that it has signed a Memorandum of Understanding (MoU) with the Industries Department of the Government of Bihar to promote renewable energy in the state.
The agreement was formalized during the “Bihar Business Connect 2024” Global Investor Summit in Patna on 20 December 2024.
The MoU was exchanged by Alok Ranjan Ghosh, Director, Industries, Government of Bihar, and Bimal Gopalchari, Additional General Manager (Business Development), NTPC Green Energy Limited, in the presence of Bihar Industries Minister Nitish Mishra and other senior officials.
The partnership aims to develop ground-mounted and floating solar installations, battery energy storage systems and green hydrogen mobility initiatives in Bihar.
NTPC Green Energy said in a regulatory filing that the MoU structures significant investments to set up renewable energy projects in Bihar, including ground-mounted and floating solar installations, battery energy storage systems and green hydrogen mobility initiatives. etc. are included.
The State Government will assist in providing permissions, registration, approvals and clearances to ensure smooth scale-up of the project.
NTPC Green Energy is the largest government company in the renewable energy sector (except hydro energy) in terms of operating capacity by September 2024 and power generation by March 2024.
The company’s renewable energy portfolio encompasses solar and wind energy assets with diverse locations spread across more than 6 states, which helps mitigate the risk of location-specific output variations.
Shares of NTPC Green Energy Ltd closed at ₹132.05 on BSE, down ₹2.75 or 2.04%.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.