Mumbai, April 9 -- The new company will focus on developing, operating, and maintaining renewable energy parks across India.

The joint venture, formalised 8 April 2025, is structured with NGEL holding a 74% stake and MAHAPREIT owning the remaining 26%.

The entity will focus on developing ultra mega renewable energy power parks (UMREPP) and other solar, wind, and hybrid projects, with or without storage, totaling up to 10 GW in capacity. The project will initially focus on Maharashtra but may expand to other states.

According to a regulatory filing, the incorporation was approved by the Ministry of Power after obtaining concurrence from DIPAM and NITI Aayog. NGEL has subscribed to 74,000 equity shares at a face value of Rs 10 each.

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