NTPC Green Energy forms joint venture with Chhattisgarh Power Company
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.
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