Mumbai, Jan 30 (KNN) As part of Maharashtra Government’s Green Investment Plan, the state government has inked a Memorandum of Understanding (MoU) with NTPC Green Energy Limited (NGEL) for the development of Green Hydrogen Projects.

With a projected investment of around Rs 80,000 crores, the MoU outlines the development of Green Hydrogen and its derivatives (Green Ammonia, Green Methanol) with a capacity of up to 1 million tons per annum.

Additionally, the collaboration includes Pumped Storage Projects of 2 GW and the advancement of renewable energy projects ranging from 5 GW, whether with or without storage, within the state.

The MoU exchange, which occurred on Monday, involved key figures such as Mohit Bhargava, Chief Executive Officer, NGEL, and Narayan Karad, Deputy Secretary (Energy), Government of Maharashtra.

The event took place in the presence of Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnavis, and other eminent officials.

This development is in consonance with NTPC's broader strategy to establish a renewable energy capacity of 60 GW by the year 2032.

NGEL, being a wholly-owned subsidiary of NTPC, plays a pivotal role in spearheading NTPC's Renewable Energy journey.

Currently boasting an operational capacity exceeding 3.4 GW and a robust pipeline of 26 GW, including 7 GW currently under implementation, NGEL is poised to be a leader in advancing sustainable energy solutions.

(KNN Bureau)