HMEL deals with refineries, crude pipelines, crude oil terminals, and captive power plants. It is a Joint Venture between HPCL and Mittal Energy Investments Pvt Ltd. The MoU envisions to chalk out collaboration plans with the expertise of these two industries. Under the agreement, the two firms would tie up to boost renewable energy production and look at new ways to look at the potential of Green Hydrogen production and deployment.
“The MoU envisages collaborating in the field of Renewable Energy through sourcing 250 MW RE-RTC (Round-The-Clock) power to meet the requirement of HMEL and also exploring opportunities in the Green Hydrogen business & its derivatives (Green Ammonia & Green Methanol),” a statement from NTPC said.
The MoU was signed between NGEL and HMEL on May 19, 2023, in Noida. It was signed by VV Sivakumar, GM (NGEL), and Girish Ghildiyal, GM (HMEL), in the presence of Mohit Bhargava, CEO (NGEL), and Harak Banthia, CFO (HMEL).
NTPC is India’s largest Power Utility and core power generation business, with a total installed capacity of 72 GW (including JVs and subsidiaries). It recently announced its largest-ever annual power production in FY23. NTPC floated NGEL in 2022 to take care of all green projects of India’s largest power producers. HMEL operates the Guru Gobind Singh Refinery (GGSR) with an 11.3 MMTPA capacity at Bathinda, Punjab.
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