In a significant move towards sustainable energy development, NTPC Green Energy Limited (NGEL) has formalized a strategic partnership with the Government of Maharashtra through the signing of a Memorandum of Understanding (MoU). The collaboration, inked on January 29, 2024, underlines their commitment to advancing Green Hydrogen projects, including derivatives like Green Ammonia and Green Methanol, with a capacity of up to 1 million tons per annum.
The MoU is an integral component of the Government of Maharashtra’s ambitious Green Investment Plan for the next five years, symbolizing a potential investment of approximately ₹80,000 crores. The agreement also encompasses the development of Pumped Storage Projects boasting a 2 GW capacity, as well as renewable energy projects, both with and without storage, reaching up to 5 GW in the state.
The ceremonial exchange of the MoU took place in the presence of key dignitaries, including Chief Minister of Maharashtra Eknath Shinde, Deputy Chief Minister Devendra Fadnavis, Chief Executive Officer of NGEL Mohit Bhargava, and Deputy Secretary (Energy) Narayan Karad.
Speaking on the occasion, Mohit Bhargava, CEO of NGEL, expressed enthusiasm about the collaboration, stating, “This MoU signifies a crucial step in our commitment to bolstering sustainable energy solutions in Maharashtra. We are dedicated to advancing not only Green Hydrogen but also exploring the potential of Green Ammonia and Green Methanol, thereby contributing to the larger goal of a green and carbon-neutral future.”
Deputy Chief Minister Devendra Fadnavis highlighted the significance of the partnership, emphasizing its role in propelling Maharashtra towards a cleaner and more sustainable energy landscape. “The Government of Maharashtra is steadfast in its commitment to fostering a conducive environment for green investments. This collaboration with NGEL aligns perfectly with our vision for a future powered by renewable energy,” said Fadnavis.
The agreement is poised to drive the development of renewable energy projects in Maharashtra, further solidifying NGEL’s position as a trailblazer in NTPC’s Renewable Energy journey. NTPC, with its ambitious target of achieving 60 GW of renewable energy capacity by 2032, sees NGEL as a key player in achieving this goal.
NGEL, a wholly-owned subsidiary of NTPC, aims to lead NTPC’s Renewable Energy endeavours with an operational capacity exceeding 3.4 GW and an impressive pipeline of 26 GW, including 7 GW currently under implementation.
