This will focus on clean energy parks. NTPC Green Energy Limited (NGEL), an arm of NTPC Ltd, has signed a joint venture (JV) with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd. to boost the development of renewable energy in India.

NTPC Green Energy Limited has entered into a joint venture agreement with Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) for the development of 10 gigawatt renewable energy projects.

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

Tata Power and Renew Power had cash return on gross capital invested (CRoGCI) of 10.8 per cent each, while Adani Green had a CRoGCI of 14.7 per cent in FY2024.

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.