MoU between NGEL and UP Rajya Vidyut Utpadan Nigam Limited

• 02 Jun 2023

Why In News?

According to the information received from the Press Information Bureau of the Government of India on 1 June 2023, Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) and NTPC Green Energy Limited (NGEL) signed a Memorandum of Understanding (MoU) in Lucknow with the objective of collaborating in the development of renewable energy parks & projects and transforming the energy sector.

Key Points:

• The MoU was signed by the CEO of NGEL Mohit Bhargava and UPRVUNL Director (Finance) Nidhi Kumar Narang & Managing Director P. Guruprasad.
• Under the MoU, the two organisations are planning to undertake a solar PV project dedicated to the Rihand reservoir, other water areas and any available vacant land, solar PV project for solar electrification of Ayodhya City. Wherever land will be made available, both organisations will work together for the development of renewable energy parks and projects.
• Both NGEL and UPRVUNL will work together to form a Joint Venture Company (JVC) to carry out tasks such as renewable energy generation responsibility, and flexibility in the production & scheduling of thermal/hydro power stations by combining renewable energy& energy storage.
• It is worth mentioning that the NTPC is India's largest power generation company. Its total installed capacity (including joint ventures and affiliates) is around 72 GW.
• To expand the renewable energy business, a wholly-owned subsidiary NTPC Green Energy Limited (NGEL) has been formed which will work on a range of projects including renewable energy parks and green hydrogen, energy storage technology & round-the-clock development work in the renewable energy power sector.
• It is known that UPRVUNL was formed to set up and operate power generation stations in Uttar Pradesh. At present, UPRVUNL has four thermal power stations with an installed capacity of 5,820 MW and one thermal power station with an installed capacity of 1,320 MW is in a joint venture with NTPC.
• UPRVUNL is in the process of raising another 3,300 MW capacity with supercritical technology on its own. In addition, the central government is in the process of raising another 1,980 MW capacity through joint ventures with public sector undertakings.
• At present, UPRVUNL is also focusing on renewable energy and the energy storage sector.