NTPC Green Energy Limited has received board approval for forming a strategic joint venture with GAIL (India) Limited to expand operations in the renewable energy sector. The board meeting, held on January 15, 2026, marked a significant step in the company's growth strategy through strategic partnerships.

Board Meeting Details

The Board of Directors convened on January 15, 2026, to deliberate on the joint venture proposal. Key details of the board proceedings include:

Joint Venture Structure

The approved joint venture will operate as an equal partnership between the two public sector enterprises. The structure demonstrates both companies' commitment to India's renewable energy transition:

• Ownership Structure: 50:50 equity participation between NTPC Green Energy Limited and GAIL (India) Limited
• Business Scope: Undertaking renewable energy projects across various technologies and geographies
• Strategic Rationale: Combining NTPC Green Energy's renewable expertise with GAIL's infrastructure capabilities

Regulatory Approvals Required

The joint venture formation is contingent upon obtaining necessary regulatory clearances from multiple authorities. The company has identified specific approval requirements:

The company stated that detailed disclosure requirements as per the Securities and Exchange Board of India Master Circular dated November 11, 2024, will be communicated in due course once the approval process progresses.

Corporate Compliance

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Manish Kumar signed the official communication to both stock exchanges.

Market Implications

This joint venture represents a significant development in India's renewable energy landscape, bringing together two major public sector companies with complementary strengths. The partnership is expected to leverage NTPC Green Energy's renewable energy development capabilities alongside GAIL's extensive infrastructure network and project execution experience.

NTPC Green Energy Limited has achieved a significant milestone with the successful commissioning of the first phase of its Bhadla Solar PV Project in Rajasthan. The company announced that 300 MW capacity out of the total 500 MW project has commenced commercial operations, marking another step forward in India's renewable energy expansion.

Project Details and Commissioning

The commissioned solar capacity is part of the larger Bhadla Solar PV Project located in Phalodi, Rajasthan. The project is operated by NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Green Energy Limited.

Capacity Enhancement Impact

The addition of this 300 MW solar capacity has substantially increased the company's operational portfolio. The commissioning represents a strategic expansion of NTPC Green Energy Limited's renewable energy footprint across India.

Regulatory Compliance

The company made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was filed on January 14, 2026, ensuring transparency with stakeholders and regulatory authorities.

The certification process involved both the Solar Energy Corporation of India (SECI) and Rajasthan Renewable Energy Corporation Limited (RRECL), confirming the project meets all technical and operational standards required for commercial operation.

Strategic Significance

This commissioning represents the first phase of the Bhadla Solar PV Project, with the remaining 200 MW capacity expected to be commissioned in subsequent phases. The project strengthens NTPC Green Energy Limited's position in India's renewable energy sector and contributes to the country's clean energy objectives.

The Bhadla Solar Park in Rajasthan is one of India's largest solar installations, and NTPC Green Energy Limited's participation underscores its commitment to large-scale renewable energy development. The successful commissioning of this phase demonstrates the company's execution capabilities in utility-scale solar projects.