NTPC Green Energy Signs Agreement with Bihar Government for Renewable Energy Projects
Key Ideas
- NTPC Green Energy (NGEL) has signed an MoU with the Government of Bihar for significant investments in renewable energy projects in the state.
- The agreement includes plans for ground-mounted and floating solar installations, battery energy storage systems, and green hydrogen mobility initiatives.
- NGEL, a subsidiary of NTPC, is the largest renewable energy public sector enterprise in terms of operating capacity, with 3320 MW across 6 states as of September 30, 2024.
- The company reported a consolidated net profit of Rs 176.65 crore and net sales of Rs 1,082.29 crore for the six months ending on 30 September 2024.
NTPC Green Energy (NGEL) has entered into a memorandum of understanding (MoU) with the Department of Industries, Government of Bihar on 20 December 2024. The MoU outlines a framework for significant investments in Bihar to establish various renewable energy projects. These projects will encompass ground-mounted and floating solar installations, battery energy storage systems, and green hydrogen mobility initiatives. The Government of Bihar has committed to facilitating all necessary permissions, registrations, approvals, and clearances to support these projects. NGEL, a subsidiary of NTPC, is recognized as the largest renewable energy (excluding hydro) public sector enterprise in terms of operating capacity, with 3320 MW spread across 6 states as of September 30, 2024. Additionally, the company achieved a consolidated net profit of Rs 176.65 crore and net sales of Rs 1,082.29 crore for the six months ending on 30 September 2024. The positive sentiment surrounding the signing of the MoU and the future investments indicates a step towards enhancing sustainable energy initiatives in Bihar.
Topics
Green Hydrogen
Renewable Energy
Investment
Energy Storage
Partnership
Solar Energy
Public Sector
Green Mobility
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