TFP Bureau, New Delhi, January 30, 2024: NTPC Green Energy Limited (NGEL) has formalized a significant collaboration by signing a Memorandum of Understanding (MoU) with the Government of Maharashtra. The agreement focuses on the development of Green Hydrogen and its derivatives, including Green Ammonia and Green Methanol. Additionally, the collaboration encompasses Pumped Storage Projects with a capacity of 2 GW and the advancement of renewable energy projects, with or without storage, totaling 5 GW within the state.
The MoU, exchanged on January 29, 2024, is aligned with the Government of Maharashtra’s Green Investment Plan for the upcoming five years. The collaboration anticipates a substantial investment of approximately ₹80,000 crores.
The exchange of the MoU took place in the presence of Chief Minister of Maharashtra Shri Eknath Shinde, Deputy Chief Minister Shri Devendra Fadnavis, and other senior officials. The ceremony involved Chief Executive Officer of NGEL, Shri Mohit Bhargava, and Deputy Secretary (Energy) of the Government of Maharashtra, Shri Narayan Karad.
NTPC, on its path to achieving a renewable energy capacity of 60 GW by 2032, positions NGEL as a key player in its Renewable Energy journey. NGEL, a wholly-owned subsidiary of NTPC, aspires to lead with an operational capacity exceeding 3.4 GW and a pipeline of 26 GW, including 7 GW currently under implementation.
This collaboration represents a significant stride towards green energy initiatives, supporting the vision of sustainable and environmentally friendly development.
