A joint venture between state-run Maharashtra State Power Generation Co (MAHAGENCO) and India’s largest power generator National Thermal Power Corporation Limited (NTPC) is approved by Maharashra government.
MahaGenco and NTPC jointly will be setting up an ultra-mega solar power park with a total generation capacity of 2,500 MW.
Both the firm 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 said that the JV has been bestowed with the responsibility of adhering to the state’s renewable energy policy during the implementation of the proposed solar park.
The state government has waived 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.