NTPC GREEN AND GAIL TO FORM JOINT VENTURE FOR RENEWABLE PROJECTS

and will form a 50:50 joint venture to set up renewable energy projects, marking a fresh step in the state-owned power major’s clean energy expansion plans. However, the incorporation of the joint venture company will be subject to approvals from the Ministry of Power, the Department of Investment and Public Asset Management (DIPAM), and other statutory authorities. Such partnership is expected to strengthen their execution capacity in renewable projects and diversify their green energy portfolio, benefitting both companies in the long run.