Memorandum of Understanding (MoU) signed to boost renewable energy and explore green hydrogen opportunities
NGEL, a subsidiary of NTPC, India’s largest power utility, and HMEL, a joint venture between HPCL and Mittal Energy Investments Pvt Ltd, announced a momentous collaboration recently. The signing of a Memorandum of Understanding (MoU) took place in New Delhi, marking a significant step towards achieving green energy and green hydrogen objectives.
The MoU, signed byV. V. Sivakumar, General Manager of NGEL, and Girish Ghildiyal, General Manager of HMEL, were witnessed by esteemed individuals including Mohit Bhargava, CEO of NGEL, and Harak Banthia, CFO of HMEL.
One of the primary goals of this collaboration is to strengthen the field of renewable energy by sourcing 250 MW of Round-The-Clock (RTC) power to meet HMEL’s requirements. Furthermore, both entities will explore promising opportunities in the green hydrogen sector and its derivatives, such as Green Ammonia and Green Methanol.
NTPC, with a colossal total installed capacity of 72 GW in power generation, has taken significant strides towards expanding its renewable energy portfolio. As part of this endeavor, NGEL, a fully owned subsidiary, has been established.
NGEL will be responsible for spearheading Renewable Energy Parks and Projects, including ventures in the realm of Green Hydrogen, Energy Storage Technologies, and Round-the-Clock Renewable Energy Power.
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On the other hand, HMEL, an integrated refining and petrochemical company in India, operates the Guru Gobind Singh Refinery (GGSR) in Bathinda, Punjab. As a joint venture between HPCL and Mittal Energy Investments Pvt Ltd, HMEL specializes in producing superior petroleum and petrochemical products.
With this partnership between NGEL and HMEL, a new chapter unfolds in India’s pursuit of sustainable energy solutions.
By combining their expertise and resources, these two influential entities aim to accelerate the transition to a greener, more sustainable future. The collaboration holds the potential to revolutionize the renewable energy and green hydrogen sectors, paving the way for significant advancements in India’s energy landscape.