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.

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

India's NTPC has announced plans to invest more than $23bn in renewable energy projects in the state of Madhya Pradesh.

State-owned NTPC signs MoUs worth Rs 2 lakh crore for renewable energy projects in Madhya Pradesh, focusing on solar, wind, pumped hydro storage, and other non-fossil fuel options. The agreements, signed during the Global Investors Summit,

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.

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 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.