In a significant move towards bolstering green energy initiatives, NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra. The agreement, aimed at the development of Green Hydrogen and its derivatives such as Green Ammonia and Green Methanol, marks a significant stride towards sustainable energy solutions.
Under the MoU, NGEL is set to undertake the development of Green Hydrogen and its derivatives with a capacity of up to 1 million tons per annum. Additionally, the agreement includes plans for Pumped Hydro Projects totaling 2 GW and the development of Renewable Energy (RE) projects, with or without storage, up to 5 GW in the state.
The exchange of the MoU took place between Shri Mohit Bhargava, Chief Executive Officer of NGEL, and Shri Narayan Karad, Deputy Secretary (Energy) of the Government of Maharashtra. The ceremony was graced by the presence of the Honorable Chief Minister, the Honorable Deputy Chief Minister, and other senior officials.
This initiative aligns with the Green Investment Plan of the Government of Maharashtra for the next five years, with an estimated investment of approximately ₹ 80,000 Crore.
Notably, NTPC has set an ambitious target of building renewable energy capacity up to 60 GW by 2032. NGEL, as a wholly-owned subsidiary of NTPC, aims to spearhead NTPC’s Renewable Energy journey. Presently, NGEL boasts an operational capacity of over 3.4 GW, with an impressive pipeline of 26 GW, including 7 GW currently under implementation.
This collaboration signifies a concerted effort towards sustainable energy development and underscores the commitment of both NTPC and the Government of Maharashtra towards a greener future.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
