In a significant development towards India’s clean energy transition, NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, and Nayara Energy, a prominent international downstream energy company, have inked a Memorandum of Understanding (MoU) aimed at exploring opportunities within the Green Hydrogen and Green Energy sectors.
The primary objective of this collaboration is to produce Green Hydrogen for Nayara Energy’s internal use, with the overarching goal of accelerating decarbonization and reducing carbon emissions. This strategic partnership aligns seamlessly with NTPC’s ongoing efforts to spearhead hydrogen projects within India, and it underscores the nation’s pursuit of self-reliance (Atmanirbhar Bharat), as articulated by the Prime Minister.
The MoU signing ceremony saw the presence of key dignitaries, including Shri Mohit Bhargava, CEO of NGEL, and Shri Amar Kumar, Head-Technical of Nayara Energy, alongside other senior officials from both organizations.
Shri Mohit Bhargava, CEO of NGEL, expressed enthusiasm for the venture, emphasizing the incorporation of cutting-edge technologies in Green Hydrogen production. He stated that this collaboration underscores their commitment to advancing India’s transition towards clean and sustainable energy sources.
CEO of Nayara Energy, Dr. Alois Virag, commended NTPC’s efforts in the Green Hydrogen domain and stressed that environmental sustainability is integral to their operations. This partnership is set to bolster India’s energy transition goals.
NTPC, India’s largest Power Utility, boasts a substantial installed capacity of over 73 GW and is dedicated to expanding its renewable energy portfolio, including Green Hydrogen and energy storage technologies. Nayara Energy, on the other hand, is a significant player in the energy industry, with a world-class refinery and a wide network of retail outlets across India.
This collaboration holds the promise of ushering in a greener and more sustainable energy landscape in India, contributing to the country’s ambitious renewable energy targets.