NTPC Green Energy Limited (NGEL) has signed a Memorandum of Understanding (MoU) with Government of Maharashtra for development of Green Hydrogen and derivatives of up to 1 million Ton capacity per annum. This would include Pumped Storage Projects of 2 GW and development of renewable energy projects with or without storage up to 5 GW in the state of Maharashtra. The green hydrogen derivatives would be Green Ammonia and Green Methanol.
The agreement has been signed as a part of Government of Maharashtra’s Green Investment Plan for the next five years. The agreement envisages a potential investment of approximately ₹ 80, 000 crores.
The MoU was exchanged between Chief Executive Officer, NGEL, Mohit Bhargava and Deputy Secretary (Energy), Government of Maharashtra, Narayan Karad. The MoU was inked in the presence of Eknath Shinde, Chief Minister of Maharashtra, Devendra Fadnavis, Deputy Chief Minister of Maharashtra and other senior officials.
NTPC said that it is in the path of building renewable energy capacity of 60 GW by 2032. NGEL is a wholly-owned subsidiary of NTPC and aims to be the flag bearer of NTPC’s Renewable Energy journey with an operational capacity of over 3.4 GW and 26 GW in pipeline including 7 GW under implementation.
In a separate but important development NTPC received nod from the Department of Investment and Public Asset Management (DIPAM) to list its green energy arm NTPC Green Energy Ltd (NGEL) to raise up to Rs 10,000 crore.
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