The government of Maharashtra and NTPC Green Energy Limited (NGEL) have inked a Memorandum of Understanding (MoU) for the development of green hydrogen and its derivatives, such as green ammonia and green methanol, with a maximum capacity of one million tons annually.
The agreement also covers the development of 2 GW of pumped storage projects and up to 5 GW of renewable energy projects in the state, with or without storage.
The MoU was inked as part of the Maharashtra government’s five-year green investment plan. The agreement estimates a possible investment of over ₹ 80, 000 crore.
The MoU was exchanged on 29th January, 2024 between Chief Executive Officer, NGEL, Shri Mohit Bhargava and Deputy Secretary (Energy), Government of Maharashtra, Shri Narayan Karad in the presence of Chief Minister of Maharashtra Shri Eknath Shinde, Deputy Chief Minister of Maharashtra, Shri Devendra Fadnavis and other senior officials.
NTPC is in the path of building renewable energy capacity of 60 GW by 2032.
NGEL is a wholly-owned subsidiary of NTPC and aims to be the flag bearer of NTPC’s Renewable Energy journey with an operational capacity of over 3.4 GW and 26 GW in pipeline including 7 GW under implementation.
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