DVC and NTPC forms a joint venture for renewable projects development

This joint venture company will implement renewable energy parks and projects including those approved under the Ultra Mega Renewable Energy Power Parks Scheme and the CPSU Program. 

A joint venture (JV) agreement has been signed between Damodar Valley Corporation (DVC) and NTPC Renewable Energy Ltd, a fully owned subsidiary of NTPC Limited.  The JV company will work toward development of renewable power projects in the DVC command area. 

In the JV company, DVC and NTPC Renewable will hold 49 per cent and 51 per cent stakes, respectively. The JV company will engage in implementing renewable energy parks and projects – probably GW size projects. 

These projects will include those approved under Ultra Mega Renewable Energy Power Parks Scheme and CPSU scheme. 

The JV with NTPC is unrelated to the MoU that DVC signed with another state-owned company, SJVN, to harness approximately 2000 MW of solar energy within the DVC Command Area.

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