New Delhi: NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, and Nayara Energy, an international downstream energy company, have entered into a Memorandum of Understanding (MoU) on September 11. Together, they plan to explore the opportunities available in the Green Hydrogen and Green Energy space.
The MoU aims to collaborate on producing Green Hydrogen for Nayara Energy’s own use, speeding up efforts to reduce carbon emissions, and lowering the carbon footprint. This partnership aligns with NTPC’s plans to develop hydrogen projects in India and supports the vision of a self-reliant India (Atmanirbhar Bharat) set by the Prime Minister.
The signing of the MoU involved the CEO of NGEL, Shri Mohit Bhargava, the Head-Technical of Nayara Energy, Shri Amar Kumar, and other senior officials from both companies.
CEO of NGEL, Shri Mohit Bhargava, expressed optimism about the collaboration, emphasising the importance of Green Hydrogen in India’s clean energy future. He stressed the commitment to utilising advanced technologies to produce Green Hydrogen, contributing to a cleaner and more sustainable energy landscape.
“Through NGEL, we are dedicated to expanding our Green Energy portfolio, and this collaboration exemplifies our relentless pursuit of a greener and more sustainable future for the nation,” Bhargava said.
CEO of Nayara Energy Dr. Alois Virag, applauded NTPC’s efforts in Green Hydrogen and highlighted the company’s dedication to environmental sustainability. “This collaboration will contribute to achieve the energy transition objectives of the country,” he said.
NTPC is India’s largest power utility with over 73 GW of installed capacity, focusing on expanding its renewable energy portfolio. Its subsidiary, NGEL, is dedicated to renewable energy projects, including Green Hydrogen and energy storage technologies and and Round-the-Clock RE Power.
Nayara Energy is an integrated downstream company with a significant presence in the hydrocarbon industry, owning one of India’s largest refineries in Gujarat with a capacity of 20 MMTPA and over 6,000 retail outlets across the country.
Also Read More –
- ONGC eyes to gain 10 GW renewable energy portfolio by 2030
- NLC India forms subsidiary company to undertake green energy projects
- SJVN inks MoU with MAHAGENCO to develop 5,000 MW renewable energy projects in Maharashtra
