State-owned power giant NTPC's arm NTPC Green Energy Ltd and HPCL Mittal Energy Ltd have signed a pact to collaborate in renewable energy and generation of green hydrogen.
The two companies envisage to collaborate in the field of Renewable Energy (RE) through sourcing of 250 MW RE-RTC (Round-The-Clock) power to meet the requirement of HPCL Mittal Energy Ltd, and also exploring opportunities in the green hydrogen business & its derivatives (Green Ammonia & Green Methanol).
"In order to realise green energy and green hydrogen objectives and the Government of India's efforts towards energy transition, a Memorandum of Understanding (MoU) signed between NTPC Green Energy Ltd (NGEL) and HPCL Mittal Energy Ltd (HMEL) on 19th May 2023," NTPC said in a statement on Friday.
The MoU was signed by V V Sivakumar, General Manager at NGEL, and Girish Ghildiyal, General Manager at HMEL.
NTPC is India's largest power utility firm, having a core business of power generation with a total installed capacity of 72 GW (including JVs and subsidiaries). As part of increasing its renewable energy portfolio, a fully-owned subsidiary has been formed as NGEL, which shall take up RE Parks and Projects, including business in the area of green hydrogen, energy storage technologies, and RTC RE Power.
HMEL is a joint venture between HPCL and Mittal Energy Investments Pvt Ltd, which is an integrated refining and petrochemical company in India. It is engaged in the business of superior petroleum and petrochemical products and operates the Guru Gobind Singh Refinery (GGSR) with 11.3 MMTPA capacity at Bathinda, Punjab.
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