The second MoU, between Chhattisgarh State Power Generation Company (CSPGCL) and NTPC, focuses on the development of a 1,200 MW Pumped Hydro Storage Project at Sikaser in the Gariyaband district of Chhattisgarh. The estimated investment for this project is approximately Rs 5,876 crore.

The third Joint Venture Agreement (JVA) was signed between NTPC Green Energy (NGEL) and CSPGCL to develop renewable energy projects with a combined capacity of up to 2 GW. This initiative, with an estimated investment of Rs 10,000 crore, is designed to fulfill CSPGCL’s Renewable Generation Obligation (RGO) and assist Chhattisgarh DISCOMs in meeting their Renewable Purchase Obligation (RPO).

NTPC is India's largest energy conglomerate. It has a presence in the entire value chain of the power generation business. As of 31 December 2024, the Government of India holds 51.10% in NTPC.

NTPC Green Energy (NGEL), promoted by ‘Maharatna’ central public sector enterprise NTPC, is the largest renewable energy (excluding hydro) public sector enterprise in terms of operating capacity.

Shares of NTPC rose 0.64% to Rs 331.25, while those of NTPC Green Energy rose 1.20% to Rs 96.12 on the BSE.