DVC, NTPC form JV for renewable power projects

Damodar Valley Corporation (DVC) on Wednesday said it signed a joint venture agreement with NTPC Renewable Energy Ltd, a fully owned subsidiary of the NTPC Limited, for renewable power projects in its command area.

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DVC will hold 49 per cent and NTPC Renewable will hold 51 per cent in the JV company to implement renewable energy parks and projects including those approved under Ultra Mega Renewable Energy Power Parks Scheme and CPSU scheme.

DVC did not provide any further details.

Sources said this JV will execute GW size projects.

The JV with NTPC was not linked to the MoU signed by DVC with another state-owned entity SJVN Limited for harnessing potential solar energy of about 2000 MW available under the DVC Command Area.