Indian state power company NTPC will invest more than 2 trillion rupees ($23.07 billion) on renewable energy projects in the central state of Madhya Pradesh, the company said on Monday.

Madhya Pradesh signed initial agreements with investors promising to pour in a record Rs 30.77 lakh crore in sectors like clean energy as the state pivots path from a laggard to an investment hotspot.

S hares of NTPC Ltd are in news today after the state-owned power producer it has inked multiple MoUs with the Madhya Pradesh government during the Global Investors Summit, being

The company has signed multiple memoranda of understanding with the Madhya Pradesh government to support sustainable energy initiatives.

Shares of NTPC Green Energy surged by 4.6% following multiple MoUs signed with the Madhya Pradesh government during the Global Investors Summit to develop renewable energy projects. Despite this, NTPC shares dipped almost 1%.

Madhya Pradesh signed agreements with investors to bring in Rs 30.77 lakh crore in sectors like clean energy. This initiative is led by Chief Minister Mohan Yadav to transform the state into an investment hotspot.

Madhya Pradesh has secured a record Rs 30.77 lakh crore investment across sectors like clean energy, creating 21.4 lakh jobs. The state aims to become an investment hotspot, with Adani, Reliance, and NTPC among major investors.

The collaboration aligns with Madhya Pradesh’s long-term vision of leveraging its natural resources for sustainable development.

A deal was signed to set up a solar project. Solar Energy Corporation of India Limited (SECI) has committed a phase-wise capital expenditure of INR 2,500 crore to expand Madhya Pradesh’s renewable energy capacity.

Madhya Pradesh has secured a record Rs 30.77 lakh crore in investment commitments at its two-day investor summit, with major players like Adani, Reliance and NTPC making significant pledges.