NTPC Green Energy forms JV with Chhattisgarh Power Company
The shares of NTPC Green Energy Limited (NGEL) were trading at ₹96.13, up by ₹1.02 or 1.07 per cent on the NSE today at 10.12 am.
NTPC Green Energy (NGEL) has signed a Joint Venture Agreement with Chhattisgarh State Power Generation Company Ltd (CSPGCL) to develop renewable energy projects in Chhattisgarh. The agreement was signed on March 10, 2025, during the Chhattisgarh Energy Investors Summit in Raipur.
According to the company, the joint venture will develop solar, wind, and hybrid renewable energy projects with a capacity of up to 2 GW. The companies will also identify reservoirs for developing floating solar projects.
NGEL will hold a 74 per cent stake in the new joint venture company, while CSPGCL will own the remaining 26 per cent. The initial authorised and paid-up share capital of the JV company will be ₹10 lakh.
The JV will issue 100,000 equity shares to both partners in the 74:26 ratio at a face value of ₹10 per share. NGEL will appoint three directors to the JV’s board, while CSPGCL will appoint one.
The renewable power generated by the joint venture will be supplied to CSPGCL, distribution companies in Chhattisgarh and other states, as well as commercial and industrial customers across India.
