 "Ahead of IPO, NTPC Green Energy sets up joint venture with MSPGCL")
Don't want to miss the best from Business Standard?
State-owned NTPC on Tuesday said its arm has set up a 50:50 joint venture with Maharashtra State Power Generation Company Ltd.
The two parties have launched MAHAGENCO NTPC GREEN ENERGY PRIVATE LIMITED (MNGEPL), which will develop, operate and maintain renewable energy parks in Maharashtra.
According to a regulatory filing, the MNGEPL was incorporated on November 25, 2024, as a 50:50 joint venture of NTPC Green Energy Ltd (NGEL), a wholly-owned subsidiary of NTPC Ltd and Maharashtra State Power Generation Company Ltd (MAHAGENCO), a Government of Maharashtra owned company.
The JV will be engaged in the business of developing, operating and maintaining renewable energy parks in Maharashtra under UMREPP and allot parks for development of Renewable Energy Projects, it added.
The NGEL has subscribed 50,000 equity shares at the face value of Rs 10 each.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app