Damodar Valley Corporation (DVC) said it signed a joint venture (JV) agreement with NTPC Renewable Energy Ltd for renewable power projects in its authority area.

DVC will hold 49 per cent, and NTPC Renewable will hold 51 per cent in the JV to execute renewable energy parks and projects, including those approved under Ultra Mega Renewable Energy Power Parks Scheme and CPSU scheme. The JV with NTPC was not related to the MoU signed by DVC with another state-owned entity SJVN Limited for controlling solar energy of about 2000 MW available under the DVC Command Area.