NTPC Green Energy to invest Rs. 80,000 crore for development of green hydrogen projects in Maharashtra
Hydrogen

NTPC Green Energy to invest Rs. 80,000 crore for development of green hydrogen projects in Maharashtra

MoU also includes the development of 2 GW pumped storage projects and up to 5 GW of renewable energy projects

  • By ICN Bureau | January 31, 2024

NTPC Green Energy Limited (NGEL) has signed a Memorandum of Understanding (MoU) with Government of Maharashtra for development of Green Hydrogen and derivatives (Green Ammonia and Green Methanol) of up to 1 million Ton capacity per annum, including Pumped Storage Projects of 2 GW and development of renewable energy projects with or without storage up to 5 GW in the state.

The MoU has been signed as a part of Government of Maharashtra’s Green Investment Plan for the next five years. The agreement envisages a potential investment of approximately Rs. 80, 000 crores.

The MoU was exchanged on 29th January, 2024 between Chief Executive Officer, NGEL, Mohit Bhargava and Deputy Secretary (Energy), Government of Maharashtra, Narayan Karad in the presence of Chief Minister of Maharashtra Eknath Shinde; Deputy Chief Minister of Maharashtra, Devendra Fadnavis; and other senior officials.

NTPC is on the path of building a renewable energy capacity of 60 GW by 2032. NGEL is a wholly-owned subsidiary of NTPC and aims to be the flag bearer of NTPC’s Renewable Energy journey with an operational capacity of over 3.4 GW and 26 GW in pipeline including 7 GW under implementation.


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