New Delhi: In a groundbreaking transfer in direction of revolutionizing India’s power panorama and driving the nation’s bold inexperienced power and inexperienced hydrogen aims, NTPC Inexperienced Vitality Restricted (NGEL) and HPCL Mittal Vitality Restricted (HMEL) have cast a robust partnership by the signing of a Memorandum of Understanding (MoU) on Friday.
The MoU, signed by V. V. Sivakumar, Common Supervisor (NGEL), and Girish Ghildiyal, Common Supervisor (HMEL), within the presence of Mohit Bhargava, CEO (NGEL), and Harak Banthia, CFO (HMEL).
“The MoU envisages to collaborate within the discipline of renewable power by sourcing of 250 MW RE-RTC (Spherical-The-Clock) energy to satisfy the requirement of HMEL and in addition exploring alternatives within the inexperienced hydrogen enterprise & its derivatives (Inexperienced Ammonia & Inexperienced Methanol),” the Ministry of Energy stated in an announcement.
NTPC, India’s largest energy utility, with a complete put in capability of 72 GW, has taken a big step in direction of increasing its renewable power portfolio by establishing NGEL as a wholly-owned subsidiary. NGEL will give attention to creating Renewable Vitality Parks and Initiatives, with a selected emphasis on inexperienced hydrogen, power storage applied sciences, and Around the Clock RE Energy.
HPCL Mittal Vitality Restricted (HMEL), a three way partnership between HPCL and Mittal Vitality Investments Pvt Ltd., is a number one built-in refining and petrochemical firm working in India. With its Guru Gobind Singh Refinery (GGSR) in Bathinda, Punjab, boasting a capability of 11.3 MMTPA, HMEL goals to contribute to the renewable power sector and help the nation’s sustainable growth targets by this partnership with NGEL.
Up to date: 19 Might 2023, 09:37 PM IST