Business
NTPC's Green Arm, HPCL Mittal Energy Ink Pact For Renewable Power Supply And Green Hydrogen Business
NTPC Renewable Energy project (Image used for representation)
NTPC Green Energy Limited (NGEL) and HPCL Mittal Energy Limited (HMEL) on Friday (19 May) signed a Memorandum of Understanding (MoU) for the generation and supply of renewable energy (RE) round-the-clock (RTC) power and exploring business opportunities around green hydrogen and its derivatives.
"The MoU envisages to collaborate in the field of Renewable Energy through sourcing of 250 MW RE-RTC (Round-The-Clock) power to meet the requirement of HMEL and also exploring opportunities in the Green Hydrogen business and its derivatives (Green Ammonia and Green Methanol)," the Ministry of Power said in a statement.
The MoU was signed by V V Sivakumar, GM (NGEL) and Girish Ghildiyal, GM (HMEL) in the presence of Mohit Bhargava, CEO (NGEL) and Harak Banthia, CFO (HMEL).
NTPC is India’s largest Power Utility with core business of power generation having 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 NTPC Green Energy Limited (NGEL) which will take up renewable energy parks and projects including business in the area of Green Hydrogen, energy storage technologies, and round the clock RE Power.
HPCL Mittal Energy Limited (HMEL), is a Joint Venture between HPCL and Mittal Energy Investments Pvt Ltd. which is an integrated refining and petrochemical company in India.
HMEL 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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