NGEL and MAHAPREIT Ink Joint Venture to Develop 10 GW Renewable Energy Projects

Key Takeaways from the Joint Venture of NGEL and Mahapreit

• NTPC Green Energy Ltd. and MAHAPREIT have partnered to develop 10 GW of renewable energy projects.
• The Joint Venture Agreement was signed in Mumbai on September 25, 2024.
• The project will focus on developing renewable energy parks in Maharashtra and other states in India.

As per a stock exchange filing, the agreement was signed on September 25, 2024, by Shri Rajiv Gupta, CEO of NGEL, and Shri Bipin Shrimali, MD of MAHAPREIT, in Mumbai to develop 10 GW of renewable energy projects.

The JV will focus on the development of Renewable Energy Parks and Projects across Maharashtra and potentially other states in India. This partnership is a significant step toward expanding India's renewable energy capacity.

About NTPC Limited 

NTPC Ltd., along with its subsidiaries, associates, and joint ventures, primarily focuses on generating and selling bulk power to state utilities. The group is also engaged in various other sectors, including consultancy, project management and supervision, energy trading, oil and gas exploration, and coal mining.

About NTPC Green Energy Limited

NTPC Green Energy Limited (NGEL), a subsidiary of the Indian state-owned power generation company NTPC Limited, was established in 2022. Its primary focus is on developing and operating renewable energy projects, primarily in the solar and wind power sectors.

NGEL's mission is to contribute to India's clean energy transition by generating renewable electricity and reducing carbon emissions. The company aims to expand its renewable energy portfolio through a combination of new project developments and strategic acquisitions.

Currently, NGEL has several renewable energy projects under development and operation across India. These projects involve the construction and management of solar and wind power plants, which generate electricity and contribute to the country's renewable energy capacity.

Key Takeaways from Netweb Technologies Award Win:

• Netweb Technologies India, received on September 26, an Intel Partner Award for Outstanding Growth in the Data Center & AI Group.
• With this award, Netweb reinforces its commitment to delivering AI-ready solutions and its "AI-First" strategy to help customers improve capabilities and simplify operations.
• The company provides sovereign AI cloud solutions by offering Make in India Servers so that it supports in propagating local innovation and development of technology.

This success is a recognition of the company's commitment to AI-ready solutions and towards an "AI-First" strategy that can help customers enhance their capabilities while reducing organisational complexity.

Apart from this, Netweb is now working towards developing a Private AI lab to help the nation's universities and research entities realise the power of AI for transformative change. The organisation also offers sovereign AI cloud solutions through its Make in India Servers.

Sanjay Lodha, CMD of Netweb Technologies commenting on the development said, "Our strategic partnership with Intel has been instrumental in our journey to deliver cutting-edge solutions that empower our customers to achieve advancements in AI, High-Performance Computing (HPC), storage, data centres, and private cloud infrastructures.”

About Netweb Technologies India Limited:

Netweb Technologies India Limited is an Indian-owned leader in High-end Computing Solutions (HCS). It combines innovative design with manufacturing capabilities to offer a broad range of products, including High-Performance Computing (HPC) systems, Private Cloud and Hyperconverged Infrastructure (HCI), AI systems, enterprise workstations, High-Performance Storage (HPS), Data Center servers, and enterprise-grade network switches. The offered solutions come with a complement of software and services that are supported by in-house PCB design centres, surface mounting technology facilities, and advanced manufacturing lines.

About Intel:

Intel is behind the technological innovations that make life better for everyone around the globe. Gordon Moore and Bob Noyce founded the company, and it made silicon the "Moore's Law" technology platform through ingenuity and process altered the industry forever. Inspired by "Moore's Law," Intel has continued its work in semiconductors and manufacturing with designs aimed at working through all of the important issues for its customers. As a cloud, network, edges, and various computing device architectures developer, Intel aims to unlock the potential of data to build a better future for all.

Key Takeaways from L&T Technology Services’ Achievement: 

• L&T Technology Services (LTTS) is positioned as a leader in the Everest Group's Connected Product Engineering Services PEAK Matrix Assessment 2024.
• The recognition points to LTTS's commitment toward excellence and innovations in embedded engineering, especially across Mobility, Tech, and Sustainability.
• The assessment graded the providers based on the leadership in digital engineering, client feed-back, and the potential to deliver impactful and transformative solutions where LTTS ranked high among such strong performers.

This recognition comes as a testament to the commitment of excellence and innovation in embedded engineering, predominantly in areas like Mobility, Tech, and Sustainability at LTTS.

The assessment ranked the engineering service providers based on levels of digital engineering leadership and client feedback coupled with capacity to deliver impactful and transformational solutions.

LTTS emerged as a strong high performer in this ranking further giving the company credence towards its capabilities and the kind of contribution it has been making in connected product engineering.

Nishant Udupa, Practice Director, Everest Group commented that L&T Technology Services has strengthened its capabilities via investments in IPs, labs, CoEs, and partnerships with hyperscalers and technology vendors. LTTS solutions in medical technology and connected home particularly stand out, owing to continuous investments in AI/ML, IoT and edge intelligence. 

About L&T Technology Services Limited:

L&T Technology Services Limited is a public traded subsidiary of Larsen & Toubro Limited. The company concentrates on ER&D services, through consulting, design, development, and testing services throughout the entire lifecycle of product and process development. It serves 69 Fortune 500 companies and 57 of the world's leading ER&D firms in segments like industrial products, medical devices, transportation, telecom, and process industries. LTTS is headquartered in India, with over 23,550 employees. It runs its business in the form of 22 design centres around the world, 30 sales offices, and 108 innovation labs as of June 30, 2024.

About Everest Group:

Everest Group is a research firm that helps business leaders make the right decisions. With customised problem solving, it assists clients to overcome the challenges of markets and improve the effectiveness of their strategies whilst building both operational and financial performance. Focused on technology, business processes, and engineering, Everest Group offers practical advice on talent, sustainability, and sourcing. 

Key Takeaways from the Award Win

• Powermech has been awarded a ₹865 crore contract for the operation and maintenance (O&M) of a 3X660 MW supercritical thermal power plant.
• The project was awarded by Talwandi Sabo Power Limited, a subsidiary of Vedanta Limited.
• The contract, valued at ₹865 crore, will span over five years, starting from November 1, 2024.

Power Mech, a prominent player in the power sector, has secured a substantial order worth ₹865 crores. The contract involves the Operation and Maintenance (O&M) of a 3X660 MW supercritical thermal power plant located at Banawala village, Mansa District, Punjab. The project was awarded by Talwandi Sabo Power Limited, a subsidiary of Vedanta Limited.

The agreement is to be executed over the next five years starting from November 1, 2024, as per a stock exchange filing. As a domestic entity, Talwandi Sabo Power Limited has entrusted Power Mech with this critical role, reflecting the company’s reputation for excellence in the Indian power industry.

About Power Mech Projects Limited

Founded in 1999, Power Mech Projects Limited is an engineering and construction firm offering comprehensive services in the erection, testing, and commissioning (ETC) of boilers, turbines, generators, and balance of plant (BOP). The company also handles civil works and operations and maintenance (O&M). Power Mech is involved in executing ultra-mega power projects as well as supercritical and subcritical thermal power projects.

About Vedanta Limited

Vedanta Ltd. is a diversified natural resources conglomerate involved in the exploration, extraction, and processing of minerals and oil & gas. The company is engaged in the production and sale of zinc, lead, silver, copper, aluminium, iron ore, and oil & gas, with operations spanning across India, South Africa, Namibia, Ireland, Liberia, and the UAE. Additionally, Vedanta operates in commercial power generation, steel manufacturing, and port operations in India, while also manufacturing glass substrates in South Korea and Taiwan.