Business
NTPC's Green Arm, HPCL Mittal Energy Ink Pact For Renewable Power Supply And Green Hydrogen Business
Swarajya Staff
May 20, 2023, 09:51 AM | Updated 09:51 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.