To build a green hydrogen power plant in Pudimadaka near Visakhapatnam, the NTPC Simhadri has signed an MoU. The industrial and hydrogen areas would be the two key domains of the project.
With this environmentally friendly hydrogen power facility, which is expected to cost Rs 1.10 lakh crore, NTPC hopes to create an ecosystem for renewable energy. The project is expected to cost Rs 55,000 crore for each phase. The 600-acre industrial region of the model will include pre-engineered structures, sheds with solar roofing, and industrial areas.
Also, it will house production facilities for emerging energy technologies such as carbon capture systems, solar wafers, solar modules, fuel cells, batteries, and electrolysers. With a capacity of 1,500 TPD, it would be one of the nation’s largest green hydrogen production facilities when an additional 600 acres were used to cover the hydrogen region.
For the past few years, NTPC has placed a strong emphasis on reducing the risk associated with its power capacity portfolios. By 2032, NTPC plans to expand its green energy portfolio to account for 45% of all available capacity. To obtain growth capital for aggressive expansion (5000 MW of solar projects are under construction with a current capacity of 2700 MW), its already floated and has probably monetized ownership in a green energy subsidiary.
The Agreement that was thus struck is in the proper path for diversifying further because it will allow the hydrogen industry to grow and open up new growth opportunities for the company’s portfolio of green energy sources.
