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.
