NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC, has signed a Memorandum of Understanding with the Government of Maharashtra for the development of Green Hydrogen and its derivatives, such as Green Ammonia and Green Methanol. The agreement also encompasses the creation of Pumped Storage Projects with a capacity of 2 GW and the development of renewable energy projects, with or without storage, reaching up to 5 GW in the state.
The MoU, exchanged on January 29, 2024, between Mohit Bhargava, Chief Executive Officer of NGEL, and Narayan Karad, Deputy Secretary (Energy) of the Government of Maharashtra, marks a significant step in realizing the state’s Green Investment Plan for the next five years. The ambitious plan, with a potential investment of approximately ₹80,000 crores, seeks to boost the production and utilization of environmentally friendly energy sources.
The collaboration signals a strong commitment towards achieving sustainable and eco-friendly energy solutions, aligning with global efforts to combat climate change.
NGEL aims to emerge as the primary driver of NTPC’s Renewable Energy journey, with an operational capacity exceeding 3.4 GW and an impressive 26 GW in the pipeline. Notably, 7 GW of this capacity is currently under implementation. The company’s commitment to building renewable energy capacity of 60 GW by 2032 underscores its dedication to contributing significantly to India’s green energy landscape.
The agreement not only positions NGEL as a key player in the renewable energy sector but also establishes Maharashtra as a frontrunner in embracing green technologies. The collaborative efforts are expected to usher in a new era of sustainable energy production, reducing carbon emissions and fostering economic growth in the region.
