NTPC Green Energy ties up with HPCL Mittal Energy for green hydrogen

Photo: Twitter @ntpclimited

State-owned NTPC Green Energy Ltd, the arm of NTPC Green Energy Ltd and HPCL Mittal Energy Ltd, have signed an agreement to cooperate in the field of renewable energy and green hydrogen generation.

The two companies envisage cooperation in the field of Renewable Energy (RE) by acquiring a 250MW RE-RTC (Round-The-Clock) to meet the requirements of HPCL Mittal Energy Ltd, as well as exploring opportunities in green hydrogen and its derivatives business (green ammonia and green methanol).

“In order to achieve the goals of green energy, green hydrogen and the efforts of the Government of India towards energy transition, a Memorandum of Understanding (MoU) was signed between NTPC Green Energy Ltd (NGEL) and HPCL Mittal Energy Ltd (HMEL) on May 19, 2023,” NTPC said in a statement on Friday. .

The MoU was signed by VV Sivakumar, Managing Director at NGEL, and Girish Ghildiyal, Managing Director at HMEL.

NTPC is India’s largest power utility company, with a core business of power generation with a total installed capacity of 72 GW (including joint ventures and subsidiaries). As part of increasing its renewable energy portfolio, a wholly owned subsidiary named NGEL has been formed, which will operate renewable energy parks and projects, including businesses in green hydrogen, energy storage technologies and RTC RE Power.

HMEL is a joint venture between HPCL and Mittal Energy Investments Pvt Ltd, an integrated refining and petrochemical company in India. It operates in the field of superior petroleum products and petrochemicals and operates the Guru Gobind Singh Refinery (GGSR) with a capacity of 11.3 million metric tons per annum in Bathinda, Punjab.

(Only the title and image for this report may have been reworked by the Business Standard staff; the rest of the content is generated automatically from a shared feed.)

First published: May 19, 2023 | 9:47 p.m ist