NGEL signs MoU with Government of Maharashtra for development of Green Hydrogen Projects; ~ ₹ 80, 000 crores investment expected in five years – EQ
In Short : NGEL (NTPC Green Energy Limited) has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for the development of Green Hydrogen Projects. This collaboration anticipates an investment of approximately ₹80,000 crores over the next five years, signaling a substantial commitment to advancing green hydrogen initiatives in the state.
In Detail : NTPC Green Energy Limited (NGEL) has signed a Memorandum of Understanding (MoU) with Government of Maharashtra for development of Green Hydrogen and derivatives (Green Ammonia, Green Methanol) of up to 1 million Ton capacity per annum, including Pumped Storage Projects of 2 GW and development of renewable energy projects with or without storage up to 5 GW in the state.
The MoU has been signed as a part of Government of Maharashtra’s Green Investment Plan for the next five years. The agreement envisages a potential investment of approximately ₹ 80, 000 crores.
The MoU was exchanged on 29th January, 2024 between Chief Executive Officer, NGEL, Shri Mohit Bhargava and Deputy Secretary (Energy), Government of Maharashtra, Shri Narayan Karad in the presence of Chief Minister of Maharashtra Shri Eknath Shinde, Deputy Chief Minister of Maharashtra, Shri Devendra Fadnavis and other senior officials.
NTPC is in the path of building renewable energy capacity of 60 GW by 2032.
NGEL is a wholly-owned subsidiary of NTPC and 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 pipeline including 7 GW under implementation.
