Pune, 30th January 2024: In a significant move towards sustainable energy, NTPC Green Energy Limited (NGEL) has inked a groundbreaking Memorandum of Understanding (MoU) with the Government of Maharashtra. This strategic collaboration focuses on the development of Green Hydrogen projects, including Green Ammonia and Green Methanol, with a massive capacity of up to 1 million tons per annum.
The comprehensive MoU extends its scope to encompass Pumped Storage Projects of 2 GW and the creation of renewable energy initiatives, ranging up to 5 GW, with or without storage capabilities within the state. This aligns seamlessly with the Government of Maharashtra’s ambitious Green Investment Plan for the upcoming five years, projecting an impressive investment potential of around ₹80,000 crores.
The exchange of the MoU took place on January 29, 2024, witnessed by key figures including Shri Eknath Shinde, Chief Minister of Maharashtra, Shri Devendra Fadnavis, Deputy Chief Minister of Maharashtra, and other high-ranking officials. The agreement was formalized between Mohit Bhargava, Chief Executive Officer of NGEL, and Narayan Karad, Deputy Secretary (Energy) of the Government of Maharashtra.
NTPC, on its journey to establish a robust renewable energy infrastructure, has set an ambitious target of achieving 60 GW by 2032. NGEL, as a wholly-owned subsidiary of NTPC, plays a pivotal role in this mission, with an operational capacity exceeding 3.4 GW and an impressive pipeline of 26 GW, including 7 GW currently under implementation.