NTPC Green Energy Limited to collaborate with Nayara Energy for Green Hydrogen Production.
Delhi: NTPC Green Energy Limited (NGEL), a fully-owned subsidiary of NTPC Limited, a prominent integrated power producer in India, has joined forces with Nayara Energy, an international downstream energy company with a global presence, to sign a Memorandum of Understanding (MoU). The purpose of this MoU, which was formalized recently, is to explore opportunities within the Green Hydrogen and Green Energy sectors.
The MoU outlines a collaborative effort aimed at producing Green Hydrogen specifically for Nayara Energy’s internal consumption. This partnership seeks to expedite the process of reducing carbon emissions and promoting the reduction of Nayara Energy’s carbon footprint. This initiative is in alignment with NTPC’s ongoing efforts to develop hydrogen projects in India and is consistent with the vision of a self-reliant India (Atmanirbhar Bharat) articulated by the Prime Minister. The signing ceremony for this MoU featured the presence of key individuals including Shri Mohit Bhargava, CEO of NGEL and Shri Amar Kumar, Head-Technical at Nayara Energy, along with senior officials from NTPC, NGEL, and Nayara Energy.
Congratulating the team, Shri Mohit Bhargava, CEO of NGEL, expressed his satisfaction with the partnership and emphasized its focus on exploring and implementing cutting-edge technologies for Green Hydrogen production. He stated that this collaboration with Nayara Energy reflects their joint commitment to accelerating India’s shift toward cleaner and sustainable energy sources. Shri Bhargava highlighted the pivotal role Green Hydrogen will play in India’s clean energy future and through this partnership, they aim to employ advanced technologies to produce Green Hydrogen, thereby contributing to a cleaner and more resilient energy landscape. He also underscored NGEL’s dedication to expanding its Green Energy portfolio as part of their ongoing pursuit of a greener and more sustainable future for the nation.
Dr. Alois Virag, CEO of Nayara Energy, commended NTPC’s efforts in the Green Hydrogen sector and stressed that environmental sustainability is an integral part of Nayara Energy’s business operations as a prominent player in the energy industry. He emphasized the significance of the partnership with NTPC, a leader in the Green Energy business, in exploring the potential of Green Hydrogen. Dr. Virag expressed the belief that this collaboration would contribute significantly to achieving the country’s energy transition goals.
NTPC, India’s largest Power Utility with an installed capacity exceeding 73 GW has established a wholly-owned subsidiary, NGEL, to develop Renewable Energy Parks and Projects. This includes ventures in Green Hydrogen, Energy Storage Technologies, and Round-the-Clock Renewable Energy Power. NTPC Group aims to achieve 60 GW of renewable energy capacity by 2032 with a current pipeline of over 20 GW including more than 3 GW of operational capacity. Nayara Energy is an integrated downstream company with a global footprint, spanning the entire hydrocarbon value chain from refining to retail. It owns India’s second-largest single-site refinery in Vadinar, Gujarat with a capacity of 20 MMTPA. This refinery is one of the most advanced and complex globally with a complexity rating of 11.8, among the highest worldwide. The company operates over 6,000 retail outlets across India.
