NTPC Green Energy embarks on major green hydrogen project in Maharashtra

In a landmark move for India‘s renewable energy sector, NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra. This agreement, part of Maharashtra’s Green Investment Plan for the next five years, paves the way for the development of Green Hydrogen, Green Ammonia, and Green Methanol projects with a capacity of up to 1 million ton per annum. Additionally, the agreement includes the development of Pumped Storage Projects of 2 GW and renewable energy projects up to 5 GW in the state.

The MoU, which envisages a potential investment of approximately ₹80,000 crores, was exchanged on 29th January 2024. This exchange, a significant milestone, occurred between NGEL’s Chief Executive Officer Mohit Bhargava and the Deputy Secretary (Energy) of Maharashtra, Narayan Karad. The event was graced by the presence of Maharashtra’s Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnavis, and other senior officials, underlining the importance of this initiative.

Historic ₹80,000 Crore Green Energy Investment by NTPC Green Energy and Maharashtra Government

NGEL, as a leader in India’s renewable energy domain, aims to be at the forefront of NTPC’s renewable energy journey. Currently, the company boasts an operational capacity of over 3.4 GW, with an impressive 26 GW in the pipeline, including 7 GW under implementation. This initiative is in line with NTPC’s ambitious goal of building a renewable energy capacity of 60 GW by 2032.

The collaboration between NGEL and the Government of Maharashtra is a significant step in transforming the state’s energy landscape. It not only focuses on enhancing green hydrogen and derivatives production but also includes substantial investment in renewable energy projects with or without storage. This initiative is expected to play a crucial role in Maharashtra’s transition towards a more sustainable and cleaner energy future.

The MoU between NGEL and the Government of Maharashtra is a game-changer in India’s energy sector. It’s a strategic move that balances the need for sustainable energy with economic growth. The focus on green hydrogen and renewable energy aligns with global trends towards a greener future, positioning Maharashtra as a leader in India’s energy transition. This partnership is not just about investment; it’s a commitment to a cleaner, greener, and more sustainable future for India.