The collaboration between NTPC Green Energy Limited (NGEL) and HPCL Mittal Energy Limited (HMEL) in the sphere of renewable energy and green hydrogen was formalized in New Delhi with the signing of a Memorandum of Understanding (MoU) in the presence of Shri Mohit Bhargava, CEO of NGEL, and Shri Harak Banthia, CFO of HMEL. The memorandum of understanding (MoU) was signed by Shri V. V. Sivakumar, General Manager of NGEL, and Shri Girish Ghildiyal, General Manager of HMEL.
This partnership’s overarching objective is to facilitate the shift towards using renewable energy sources by providing clean and reliable power. Collaboration in the field of renewable energy: NGEL will supply HMEL with 250 MW of round-the-clock (RTC) power derived from renewable energy sources. This is to fulfill the requirements of HMEL.
NGEL and HMEL will investigate prospects in the Green Hydrogen Business: NGEL and HMEL will examine opportunities in the green hydrogen business and its derivatives, such as green ammonia and green methanol. Green hydrogen is created using renewable energy sources rather than conventional hydrogen derived from fossil fuels. This would have the effect of lowering the amount of carbon emissions produced.
The National Thermal Power Corporation (NTPC) is India’s largest power utility, boasting a combined installed capacity of 72 gigawatts across all its joint ventures and subsidiaries. NTPC has formed NGEL as a wholly-owned subsidiary to broaden its range of renewable energy sources. The Hindustan Petroleum Corporation Limited (HPCL) and Mittal Energy Investments Pvt Ltd comprise the HPCL Mittal Energy Limited (HMEL) joint venture.