DVC and NTPC establish JV for renewable power projects

Damodar Valley Corporation (DVC) has signed a joint venture (JV) agreement with NTPC Renewable Energy Limited (NTPC REL) for renewable power projects in its command area.

DVC will hold 49 per cent and NTPC RELwill 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 Central Public Sector Undertaking scheme. The JV is expected toexecute GW size projects.The JV with NTPC was not linked to the memorandum of understanding signed by DVC with SJVN Limited for harnessing potential solar energy of about 2,000 MW available under the DVC command area.