MAHAGENCO, NTPC form JV for setting up ultra-mega solar park worth 2,500 MW
The Maharashtra government has announced that it has approved a joint venture between state-run Maharashtra State Power Generation Company (MahaGenco) and National Thermal Power Corporation Limited (NTPC) which will set up an ultra-mega solar power park with a total generation capacity of 2,500 MW.
"NTPC and MahaGenco will have a capital investment of 50:50, respectively, for the development of Ultramega Renewable Solar Park," reads the official statement.
The state energy department has been appointed as a nodal agency for project development.
The Chief Minister's Office stated that the JV has been presented with the responsibility of adhering to the state's renewable energy policy during the implementation of the proposed solar park.
The state government has relinquished a one-time fee and annual operation and maintenance fee from the solar park operator as per the recent guidelines issued by the central government.