Investment Expected to Reach ₹80,000 Crores in Five Years
MoU exchange signals massive investment potential in the green energy sector.
NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, recently inked a Memorandum of Understanding (MoU) with the Government of Maharashtra. This collaboration aims to spearhead the development of Green Hydrogen projects and derivatives, including Green Ammonia and Green Methanol.
Additionally, the agreement encompasses the establishment of Pumped Storage Projects with a capacity of 2 GW, along with the development of renewable energy projects totaling 5 GW in the state.
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Government of Maharashtra’s Green Investment Plan
MoU aligns with the state’s vision for sustainable growth and environmental conservation.
This MoU aligns seamlessly with the Government of Maharashtra’s ambitious Green Investment Plan for the forthcoming five years. With an estimated investment of approximately ₹80,000 crores, the agreement sets the stage for significant strides in the renewable energy sector within the state.
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Key Figures Seal the Deal
Exchange of MoU witnessed by prominent state and NGEL officials.
The formal exchange of the MoU took place on January 29, 2024, in the presence of esteemed dignitaries including the Chief Minister of Maharashtra, Shri Eknath Shinde, Deputy Chief Minister Shri Devendra Fadnavis, and other senior officials.
The ceremony featured the Chief Executive Officer of NGEL, Shri Mohit Bhargava, and the Deputy Secretary (Energy) of the Government of Maharashtra, Shri Narayan Karad, signifying the commitment of both parties towards sustainable development.
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NTPC’s Green Energy Vision
poised to play a pivotal role in NTPC’s renewable energy journey.
NTPC has set an ambitious target of achieving a renewable energy capacity of 60 GW by 2032. NGEL, as a wholly-owned subsidiary of NTPC, is poised to lead the charge in this renewable energy transition. With an operational capacity exceeding 3.4 GW and a pipeline of 26 GW, including 7 GW currently under implementation, NGEL is committed to driving NTPC’s Renewable Energy agenda forward.
Through strategic partnerships and groundbreaking initiatives like the MoU with the Government of Maharashtra, NGEL continues to pave the way for a greener, more sustainable future in India’s energy landscape.
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