NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has signed a strategic Memorandum of Understanding with the Government of Uttar Pradesh to develop renewable energy and green hydrogen projects in the state. The agreement was formalized on January 22, 2026, during the World Economic Forum Annual Meeting in Davos, Switzerland.

MoU Signing Details

The partnership agreement was executed through a formal signing ceremony that brought together key stakeholders from both organizations. The following table outlines the key participants and their roles:

Project Scope and Strategic Focus

The MoU encompasses the development of two critical areas of clean energy infrastructure in Uttar Pradesh:

• Renewable Energy Projects: Development of sustainable energy generation facilities
• Green Hydrogen Projects: Implementation of green hydrogen production and related infrastructure

This partnership aligns with India's broader commitment to renewable energy expansion and the government's push toward sustainable energy solutions. The collaboration leverages NTPC Green Energy Limited's expertise in renewable energy development with Uttar Pradesh's industrial and infrastructural capabilities.

Corporate Disclosure

The agreement was disclosed under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, ensuring transparency for stakeholders and investors. The disclosure was made through official communication to both the National Stock Exchange of India Limited and BSE Limited on January 22, 2026.

Strategic Significance

The partnership represents a significant step in expanding renewable energy infrastructure in one of India's largest states. Uttar Pradesh's strategic location and industrial base make it an ideal destination for large-scale renewable energy and green hydrogen projects. The collaboration between NGEL and the state government is expected to accelerate the deployment of clean energy solutions while supporting the state's economic development objectives.

The signing ceremony at the World Economic Forum in Davos underscores the international significance of this partnership and India's commitment to sustainable energy development on the global stage.

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 and Joint Venture Details

The Board of Directors convened on January 15, 2026, to deliberate on the joint venture proposal. The approved joint venture will operate as an equal partnership between the two public sector enterprises:

Regulatory Approvals Required

The joint venture formation is contingent upon obtaining necessary regulatory clearances from multiple authorities:

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.

Strong Q2 Financial Performance

NTPC Green Energy reported robust financial results for the quarter ended September 30, 2025, demonstrating strong operational performance:

Corporate Profile and Market Position

NTPC Green Energy (NGEL) operates as a subsidiary of state-owned power giant NTPC, serving as the umbrella company for green business initiatives. The company undertakes projects through both organic and inorganic routes, positioning itself as the flag-bearer of NTPC's green energy journey to achieve the ambitious target of 60 GW by FY32.

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. The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India regulations.