In India, the country's largest integrated power utility National Thermal Power Corporation Ltd (NTPC) has announced that its wholly-owned subsidiary NTPC Green Energy Ltd (NGEL) has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for the development of green hydrogen and derivatives such as green ammonia and green methanol in the state.
A wholly-owned subsidiary of NTPC that aims to build up to 60 GW of renewable energy capacity by 2032, NTPC Green Energy (NGEL) aims to be the flag bearer of 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.
The MoU has been signed as a part of the Green Investment Plan of the Government of Maharashtra in the next five years and envisages a potential investment of approximately INR 80,000 Crore (INR 800 billion ≈ US$9.63 billion).
The MoU envisages up to 1 million tonnes per annum capacity and includes pumped hydro projects of up to 2 GW and the development of renewable energy projects with or without storage of up to 5 GW in the state.
