Damodar Valley Corporation (DVC) announced on Wednesday that it has inked a joint venture (JV) agreement for renewable energy projects in its command area with NTPC Renewable Energy Ltd, a wholly-owned subsidiary of NTPC Limited.

DVC will own 49% of the JV company, while NTPC Renewable will own 51%. The JV will implement renewable energy parks and projects, including those approved under the Ultra Mega Renewable Energy Power Parks Plan and the Central Public Sector Undertaking (CPSU) scheme.

According to the media, this JV will work on projects with a GW scale.

The JV with NTPC was unrelated to a memorandum of understanding (MoU) signed by DVC with another state-owned business, Satluj Jal Vidyut Nigam (SJVN) Limited, to harness potential solar energy of roughly 2000 MW in the DVC Command Area.

Damodar Valley Corporation is an Indian government agency that operates in the Damodar River basin in the Indian states of West Bengal and Jharkhand. Under the Ministry of Power of the Government of India, the corporation operates both thermal and hydel power plants.

NTPC Limited is an Indian statutory corporation. It was involved in the generation of power as well as other related operations. It is a statutory corporation that was established under the Companies Act of 1956 and is owned by the Ministry of Power of the Government of India. The company's headquarters are located in New Delhi. The generation and distribution of power to India's State Electricity Boards is the fundamental role of NTPC.

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