NTPC Green Energy: "The JVA was signed by Shri Rajiv Gupta, CEO (NGEL) and Shri Bipin Shrimali, MD (MAHAPREIT) at Mumbai in the presence of other senior officials from NGEL and MAHAPREIT. The JV Company will undertake development of 10 GW of Renewable Energy Parks and Projects in Maharashtra or in any other state of India,

NTPC Green Energy Limited has partnered with MAHAPREIT to develop 10 gigawatt renewable energy projects in Maharashtra and other states. The joint venture aims to boost India's renewable energy capacity.

Kotak said that NTPC Green Energy's proposed equity raise of ₹10,000 crore will likely suffice for the equity contribution for 11.7 GW of the incremental capacity addition.

The proposed raise of Rs 10,000 crore will help fund the equity component of Rs 12,700 crore for a balance capex of Rs 63,500 crore for 11.7 GW of contracted and awarded projects.

NTPC's performance in the last two years has largely been driven by its growing renewable energy (RE) business, which is expected to go public in the first half of FY2025.

NTPC Green Energy Ltd (NGEL), the renewable energy arm of state-run power giant NTPC Ltd, has filed its draft red herring prospectus (DRHP) for an initial public offering (IPO) aimed at raising Rs 10,

The domestic brokerage values the RE business at Rs 88,000 crore but believes the upside for NTPC could largely be priced in. It believes the holding company discount after the NTPC Green Energy listing is hard to predict and investors may prefer investing in NTPC Green Energy over NTPC for RE exposure.

The new JV will develop renewable energy parks and projects in Maharashtra or in any other state of the country, the company said.

NTPC Green's renewable energy capacity currently stands at 3.34 GW of solar energy and 0.21 GW of wind energy.

NTPC Green Energy has the third-largest contracted capacity of 15GW, after Adani Green (27GW) and Renew Power (16GW). Its portfolio consists primarily of utility-scale projects.

NTPC Green Energy Ltd (NGEL), which is preparing for a public listing, has entered into a joint venture with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (Mahapreit) to develop renewable energy parks and projects with a cumulative capacity of 10 GW across Maharashtra and other states.