NTPC Green Energy and CSPGCL to develop 2,000 MW renewable energy projects in Chhattisgarh – EQ
In Short : NTPC Green Energy and Chhattisgarh State Power Generation Company Limited (CSPGCL) have joined forces to develop 2,000 MW of renewable energy projects in Chhattisgarh. This collaboration aims to accelerate the state’s transition to clean energy, with a focus on solar, wind, and other renewable sources. The projects will contribute to India’s renewable energy goals, enhance energy security, and reduce carbon emissions.
In Detail : NTPC Green Energy Limited (NGEL) and Chhattisgarh State Power Generation Company Ltd. (CSPGCL) have signed a Memorandum of Understanding (MoU) to jointly develop renewable energy projects with a total capacity of up to 2,000 MW. The collaboration includes innovative floating solar installations, tapping into Chhattisgarh’s renewable energy potential.
The MoU was formalized at a ceremony in Raipur, with the agreement outlining plans for implementing large-scale renewable energy projects, highlighting the inclusion of floating solar technology to maximise capacity while optimising land usage.
These projects are expected to contribute to national renewable energy targets, including achieving 500 GW of non-fossil fuel capacity by 2030. The initiative also aims to strengthen renewable energy infrastructure in the region, supporting broader decarbonisation efforts and reducing reliance on conventional energy sources.
In September 2024, NGEL announced plans for a Rs 100 billion IPO of new shares, with funds potentially directed towards repaying NTPC’s loans, and several banks appointed as lead managers.
