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  3. NTPC, Nayara Energy sign MoU on green hydrogen production

NTPC, Nayara Energy sign MoU on green hydrogen production

11 Sept 2023

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Key Takeaways

  • The MoU will lead to increased revenue & profitability for both companies.

  • With the increased trend of green energy, the company’s actions towards it will be beneficial in the long run.

  • The MoU will lead to increased revenue & profitability for both companies.

  • With the increased trend of green energy, the company’s actions towards it will be beneficial in the long run.

nayara-energy unlisted shares

Nayara Energy

0.23%

Expert Analysis

NTPC Green Energy Ltd (NGEL) & Nayara Energy enter into a Memorandum of Understanding (MoU) to explore opportunities in green space.

Mohit Bhargava, CEO of NGEL’s words

  “Green hydrogen would be a crucial element of India’s clean energy future, and with this partnership, we will explore and implement cutting-edge technologies to produce green hydrogen, contributing to a cleaner and more resilient energy landscape.”  

Justification

  • National Thermal Power Corporation (NTPC)’s renewable energy arm, NTPC Green Energy Ltd. & Nayara Energy, an oil refining & marketing company, have entered into an MoU for exploring opportunities in the green hydrogen & energy space.

  • The MoU aims to create green hydrogen for Nayara Energy's use, expedite decarbonization, and reduce the carbon footprint.

  • Nayara Energy, the owner of India’s second-largest single-site refinery at Vadinar, Gujarat with a capacity of 20 million metric tons p.a (mmtpa) has 6k+ outlets & its service offering ranges from refining to retail.

  • Leading power producer NTPC aims for 60 GW of RE capacity by the year 2032 and is currently working on a pipeline of 20+ GW, out of which over 3 GW is operational capacity. 

Publisher:PV Magazine