NGEL to bolster green hydrogen projects in Maharashtra

The MoU will accumulate a potential $10.7b (₹80,000 crores) in investments.

NTPC Green Energy Limited (NGEL) has finalised a memorandum of understanding (MoU) with the Government of Maharashtra for the development of several green hydrogen projects.

The agreement covers a potential investment of an estimated $10.7b (INR80,000 crores).

The MoU encompasses derivatives like green ammonia and green methanol of around one million tonnes capacity per annum, including several 2 gigawatts (GW) of pumped storage projects and the development of renewable energy projects with or without over 5 GW storage.

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The partnership is one of the initiatives under the Government of Maharashtra’s Green Investment Plan for the next five years.

Currently, NTPC is keeping track of its overall renewable energy capacity of 60 GW by 2032, in addition to an operational capacity from NGEL of over 3.4 GW and 26 GW in its pipeline.