New Delhi: NGEL, a subsidiary of NTPC, has entered into a Memorandum of Understanding (MoU) with the Government of Maharashtra to collaborate on the development of Green Hydrogen Projects. This includes the production of Green Ammonia and Green Methanol, with a capacity of up to 1 million tons per annum.
The agreement also involves Pumped Storage Projects of 2 GW and the creation of renewable energy projects, ranging up to 5 GW, in Maharashtra. As part of the state's Green Investment Plan for the next five years, the collaboration anticipates an investment of around ₹80,000 crores.
The MoU was formally exchanged on January 29, 2024, in the presence of key officials, including the Chief Minister and Deputy Chief Minister of Maharashtra. NGEL, striving to lead NTPC's Renewable Energy journey, aims for an operational capacity exceeding 3.4 GW, with 26 GW in the pipeline, including 7 GW currently under implementation. NTPC has set a target to reach a renewable energy capacity of 60 GW by 2032.