NTPC Green signs pact with Maharashtra Govt to develop Green Hydrogen 

The pact encompasses the establishment of Pumped Storage Projects amounting to 2 GW and the development of renewable energy projects, with or without storage, totaling 5 GW in the state.

NTPC Green Energy Limited (NGEL) entered into a Memorandum of Understanding (MoU) with the Government of Maharashtra on January 29. The agreement pertains to the development of Green Hydrogen and its derivatives, including Green Ammonia and Green Methanol, with a targeted capacity of up to 1 million tons per annum. Additionally, the collaboration encompasses the establishment of Pumped Storage Projects amounting to 2 GW and the development of renewable energy projects, with or without storage, totaling 5 GW in the state.

This MoU is a crucial component of the Government of Maharashtra’s Green Investment Plan for the upcoming five years. Under the terms of the agreement, an estimated investment of approximately ₹80,000 crores is anticipated.

Key dignitaries including Eknath Shinde, the Chief Minister of Maharashtra, and Devendra Fadnavis, the Deputy Chief Minister of Maharashtra. Mohit Bhargava, Chief Executive Officer of NGEL, and Narayan Karad, Deputy Secretary (Energy) representing the Government of Maharashtra, conducted the formal exchange in the presence of other senior officials.

It is noteworthy that NTPC, on its trajectory towards bolstering renewable energy capacity, has set an ambitious target of reaching 60 GW by the year 2032. NGEL, being a wholly-owned subsidiary of NTPC, is poised to play a pivotal role in this journey. Currently, NGEL boasts an operational capacity exceeding 3.4 GW, with a robust pipeline of 26 GW, out of which 7 GW are presently under implementation.

Through this collaboration and its subsidiary’s endeavors, NTPC aims to solidify its position as a frontrunner in the realm of renewable energy, aligning with broader national objectives of sustainable development and green energy transition.