NTPC Green Energy ties up with HPCL Mittal Energy for green hydrogen

NTPC Green Energy ties up with HPCL Mittal Energy for green hydrogen

NTPC is a power generation company that is working on India’s first green hydrogen blending project with Gujarat Gas Limited (GGL). They have a market capitalization of $1,65,812.99 billion, a return on investment of 7.45%, and a fundamental score of around 5.11. They also have a hydrogen-based energy storage project in Delhi-NCR, an NTPC station in Andhra Pradesh, a hydrogen blending with a natural gas pilot project in western India, and a hydrogen mobility project in Leh Ladakh.

NTPC Green Energy Ltd, a subsidiary of the state-owned power company NTPC, and HPCL Mittal Energy Ltd have agreed to collaborate on renewable energy and green hydrogen generation.

The two companies intend to collaborate in the field of Renewable Energy (RE) by sourcing 250 MW RE-RTC (Round-The-Clock) power to meet HPCL Mittal Energy Ltd’s requirements, as well as exploring opportunities in the green hydrogen business and its derivatives (Green Ammonia & Green Methanol).

“In order to realize green energy and green hydrogen objectives and the Government of India’s efforts towards energy transition, a Memorandum of Understanding (MoU) signed between NTPC Green Energy Ltd (NGEL) and HPCL Mittal Energy Ltd (HMEL) on 19th May 2023,” NTPC said in a statement on Friday.

The Memorandum of Understanding was signed by V V Sivakumar, General Manager of NGEL, and Girish Ghildiyal, General Manager of HMEL.

NTPC is India’s largest power utility company, with a primary focus on power generation and a total installed capacity of 72 GW (including JVs and subsidiaries). As part of expanding its renewable energy portfolio, NGEL was formed as a wholly-owned subsidiary to take on RE Parks and Projects, including green hydrogen, energy storage technologies, and RTC RE Power.

HMEL is an Indian integrated refining and petrochemical company that is a joint venture between HPCL and Mittal Energy Investments Pvt Ltd. It manufactures superior petroleum and petrochemical products and operates the Guru Gobind Singh Refinery (GGSR) in Bathinda, Punjab, with a capacity of 11.3 MMTPA.

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Content Credit: Business Standard