NTPC’s green arm, HPCL-Mittal Energy sign MoU for renewables & green hydrogen business

HPCL

NTPC Green Energy Limited (NGEL) and HPCL Mittal Energy Limited (HMEL) signed a Memorandum of Understanding (MoU) on May 19 for the generation and supply of renewable energy (RE) round-the-clock (RTC) power and exploring business opportunities around green hydrogen and its derivatives.

"The MoU envisages collaborating in the field of renewable energy through sourcing of 250 MW RE-RTC power to meet the requirement of HMEL and also exploring opportunities in the green hydrogen business and its derivatives such as green ammonia and green methanol," NGEL said in a statement on May 19.

NTPC is India’s largest power utility and its core business is of power generation with a total installed capacity of 72 GW (including JVs and subsidiaries). As part of increasing its renewable energy portfolio, NGEL has been formed as a fully owned subsidiary of NTPC, which shall take up renewable energy parks and projects including business in the area of green hydrogen, energy storage technologies, and RTC RE power.

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

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