NTPC Green Energy Limited (NGEL) has taken a significant step towards sustainable energy solutions by formalizing a Memorandum of Understanding (MoU) with the Government of Maharashtra.
The agreement, exchanged on January 29, 2024, heralds the joint venture's commitment to developing Green Hydrogen and its derivatives, including Green Ammonia and Green Methanol, with a projected capacity of up to 1 million tons per annum.
The collaboration encompasses the establishment of Pumped Storage Projects amounting to 2 gigawatts (GW) and the development of renewable energy ventures, with or without storage, totaling 5 GW in the state.
The MoU aligns with the Government of Maharashtra's ambitious Green Investment Plan, charting a course for sustainable development over the next five years.
The envisioned investment for this endeavor stands at a staggering ₹80,000 crores, accentuating the scale and importance of this partnership in advancing clean energy initiatives.
The exchange of the MoU took place in the presence of Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnavis, and other senior officials.
Mohit Bhargava, Chief Executive Officer of NGEL, and Narayan Karad, Deputy Secretary (Energy) of the Government of Maharashtra, officiated the signing ceremony, marking the formal commencement of this collaborative effort.
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