January 30, 2024: NTPC Green Energy Limited (NGEL) has signed a memorandum of understanding (MoU) with the Maharashtra government on January 29, for the development of green hydrogen and derivatives (green ammonia, green methanol). These will be up to 1 million ton capacity per annum, including pumped storage projects of 2 GW and the development of renewable energy projects with or without storage of up to 5 GW in Maharashtra.
The MoU is a part of the Maharashtra government’s Green Investment Plan for the next five years. The agreement envisages a potential investment of approximately Rs 80, 000 crore.
The MoU was exchanged between NGEL CEO Mohit Bhargava and deputy secretary (energy) of, government of Maharashtra, Narayan Karad in the presence of Maharashtra chief minister Eknath Shinde, deputy chief minister of Maharashtra Devendra Fadnavis and other senior officials.
NTPC plans to build a renewable energy capacity of 60 GW by 2032. NGEL is a wholly-owned subsidiary of NTPC, and aims to lead NTPC’s renewable energy journey with an operational capacity of over 3.4 GW and 26 GW in the pipeline, including 7 GW under implementation.
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