NTPC Green Energy Limited (NGEL) has inked a Memorandum of Understanding (MoU) with the Government of Maharashtra.
The agreement outlines plans for developing Green Hydrogen and its derivatives, including Green Ammonia and Green Methanol, with a colossal capacity of up to 1 million tons annually. Additionally, the collaboration encompasses the establishment of Pumped Storage Projects totaling 2 GW and initiating renewable energy projects, with or without storage, amounting to an impressive 5 GW in the state.
This significant stride is part of the Government of Maharashtra’s ambitious Green Investment Plan, charting the course for the next five years. The MoU signals a potential investment of approximately ₹80,000 crores, underscoring the state’s commitment to fostering green technologies and renewable energy.
The ceremonial exchange of the MoU took place on January 29, 2024, witnessed by key stakeholders, including Chief Minister of Maharashtra Shri Eknath Shinde, Deputy Chief Minister Shri Devendra Fadnavis, Chief Executive Officer of NGEL Shri Mohit Bhargava, and Deputy Secretary (Energy) of the Government of Maharashtra Shri Narayan Karad.
NTPC, a central player in the energy landscape, is on a trajectory to bolster its renewable energy capacity to an impressive 60 GW by the year 2032. As a wholly-owned subsidiary of NTPC, NGEL is poised to be the torchbearer in this renewable energy journey. With an operational capacity exceeding 3.4 GW and a pipeline brimming with 26 GW, including a substantial 7 GW currently under implementation, NGEL stands at the forefront of NTPC’s green ambitions.
The strategic collaboration between NGEL and the Government of Maharashtra aligns with India’s broader renewable energy goals and underscores the state’s pivotal role in driving the nation’s sustainable energy transition. The infusion of substantial investments and the development of cutting-edge green technologies are set to propel Maharashtra into a leading position in the renewable energy landscape.
