Mumbai: NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, has inked a Memorandum of Understanding (MoU) with the Government of Maharashtra to collaborate on the development of Green Hydrogen and its derivatives, including Green Ammonia and Green Methanol. The agreement also encompasses Pumped Storage Projects of 2 GW and the development of renewable energy projects, with or without storage, amounting to 5 GW in the state.
The MoU is aligned with the Government of Maharashtra’s Green Investment Plan for the next five years, and the collaboration is projected to attract an estimated investment of approximately ₹80,000 crores. The signing ceremony took place on January 29, 2024, with Chief Executive Officer of NGEL, Shri Mohit Bhargava, and Deputy Secretary (Energy) of the Government of Maharashtra, Shri Narayan Karad, exchanging documents. The ceremony witnessed the presence of Chief Minister Shri Eknath Shinde, Deputy Chief Minister Shri Devendra Fadnavis, and other senior officials.
NTPC has set an ambitious target of achieving a renewable energy capacity of 60 GW by the year 2032. NGEL, being a wholly-owned subsidiary of NTPC, plays a pivotal role in NTPC’s Renewable Energy journey. Currently operating with an installed capacity of over 3.4 GW, NGEL has an extensive pipeline of 26 GW, including 7 GW under implementation.
The collaboration between NGEL and the Government of Maharashtra is a significant step towards fostering green and sustainable energy initiatives, contributing to the nation’s renewable energy goals and creating a more environmentally friendly future.