Business News/ Industry / Energy/  NGEL, HMEL join hands to explore opportunities in generation of green hydrogen and green chemicals

New Delhi: In a groundbreaking move towards revolutionizing India’s energy landscape and driving the nation’s ambitious green energy and green hydrogen objectives, NTPC Green Energy Limited (NGEL) and HPCL Mittal Energy Limited (HMEL) have forged a powerful partnership through the signing of a Memorandum of Understanding (MoU) on Friday.

The MoU, signed by V. V. Sivakumar, General Manager (NGEL), and Girish Ghildiyal, General Manager (HMEL), in the presence of Mohit Bhargava, CEO (NGEL), and Harak Banthia, CFO (HMEL).

“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 & its derivatives (Green Ammonia & Green Methanol)," the Ministry of Power said in a statement.

NTPC, India’s largest power utility, with a total installed capacity of 72 GW, has taken a significant step towards expanding its renewable energy portfolio by establishing NGEL as a wholly-owned subsidiary. NGEL will focus on developing Renewable Energy Parks and Projects, with a specific emphasis on green hydrogen, energy storage technologies, and Round the Clock RE Power.

HPCL Mittal Energy Limited (HMEL), a joint venture between HPCL and Mittal Energy Investments Pvt Ltd., is a leading integrated refining and petrochemical company operating in India. With its Guru Gobind Singh Refinery (GGSR) in Bathinda, Punjab, boasting a capacity of 11.3 MMTPA, HMEL aims to contribute to the renewable energy sector and support the country’s sustainable development goals through this partnership with NGEL.

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Updated: 19 May 2023, 09:37 PM IST
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