NTPC’s subsidiary NTPC Green Energy continues development of Madhya Pradesh renewable energy park and other projects in India. This after the company signed a Memorandum of Understanding (MoU) with Madhya Pradesh Power Generating Company (MPPGCL) last year. NTPC Green Energy’s 20 GW renewable energy project in Madhya Pradesh was unveiled during the signing of the MoU. The event took place at the Global Investors Summit in Bhopal. Other than the NTPC Green Energy Madhya Pradesh Project, renewable energy projects in India seem to be taking center stage with the Khavda renewable energy park project shaping up and hitting commissioning milestones as seen with the recent NTPC supply of 165 MW from Khavda-II solar project.
A Different Development Angle for NTPC Green Energy Madhya Pradesh Project
NTPC is a Government of India-owned Maharatna PSU. It is engaged in power generation across coal, gas, hydro, wind, and solar assets. Solar parks in Madhya Pradesh are also typically implemented through special-purpose park developers such as Rewa Ultra Mega Solar Limited, a JV of state and federal agencies created to build large-scale solar infrastructure. These park entities act as Solar Power Park Developers (SPPDs) under India’s national ultra-mega renewable scheme, tendering plots to generators like NTPC subsidiaries.
Project Financing
SPPDs commonly use the Design-Build-Finance-Own-Operate framework. The government set it this way to attract private capital and lenders. Additionally, payment security is strengthened through multi-tier frameworks and long-term PPAs with utilities and institutional offtakers. This basically works by lowering revenue risk and improving project bankability.
Some Madhya Pradesh solar projects seek also financing from multilateral agencies or financial institutions, especially large solar developments.
Project Factsheet
Type: Renewable Energy
Location: Madhya Pradesh
Client: The state of Madhya Pradesh
Renewable type: Solar/Wind/Hybrid
Capacity: 20 GW
Cost: $13.9 billion (₹1,20,000 Crore)
Developer: NTPC Green Energy-MPPGCL JV
Project Team and Contractors
Lead Developer
-
NTPC Limited who is the central PSU generator and project sponsor.
Renewable Subsidiaries
-
NTPC Renewable Energy Ltd (NREL) as execution arm for green projects.
-
NTPC Vidyut Vyapar Nigam Ltd (NVVN) for trading and commercial interface.
Public-Sector Partners
-
Rewa Ultra Mega Solar Limited as solar park developer.
-
Madhya Pradesh Urja Vikas Nigam Ltd as state renewable agency JV partner.
-
Solar Energy Corporation of India (SECI) as federal renewable implementation body JV partner.
Private Partners
-
ACME Solar Holdings through its subsidiaries
The 20 GW Renewable Energy Project by NTPC Green Energy in India’s Madhya Pradesh
Reported February 24, 2025 – The 20 GW renewable energy project will be handled by a JV formed by the two companies. As per the project details, the renewable energy project in India’s Madhya Pradesh will be at liberty to include storage units, or do without them.
If noticed, the renewable energy project has not been explicitly mentioned yet. According to the press release by the company whose mission is to provide reliable, affordable and most importantly, sustainable green energy solutions, it will comprise of solar/wind/hybrid installations.
A key determiner of the shape and scope of the 20 GW renewable energy project in India to be undertaken by NTPC Green Energy will be the state. According to the latest press release by NTPC Green Energy, Madhya Pradesh Generating Company and DISCOMs have the upper hand in say of the Renewable Generation Obligation (RGO) and Renewable Purchase Obligation (RPO).
More On the 20 GW Renewable Energy Project MoU
Other projects signed to effect include the development of non-fossil fuel power plants at a cost of $9.2 billion (₹80,000 Crore). This was done on behalf of the state of Madhya Pradesh by MPPGCL. Also featured as part of the agreement was the 800 MW Pumped Hydro Storage Project after an investment of $462.5 million (₹4,000 Crore) was agreed upon. This totaled the overall cost to $23 billion (₹2.04 Lakh Crore).
Key figures were in attendance during the MoU signing for the latest renewable energy parks and projects to be delivered by NTPC Green Energy and MPPGCL. Spotted in the Global Investors Summit were Madhya Pradesh’s Chief Minister and the CMD at NTPC. Also at the signing were officials from Madhya Pradesh’s energy department.
NTPC Green Energy has currently been involved in more than 17 renewable energy projects. These total to a capacity of more than 3.4 GW. The company target is set at 60 GW. Their green portfolio includes solar power, floating solar power, and hybrid power. The latter is a “synergistic approach” chosen to address the “limitations presented by individual renewable”. This is according to the green arm of NTPC.
The move has been quoted as a facilitator in India’s “efforts towards energy transition” by NTPC Green Energy.
Leave a Reply