By Rajat Mishra
NTPC Green Energy Ltd (NGEL), a subsidiary of state-run NTPC, and Hindustan Petroleum corporation Ltd (HPCL,) will jointly develop renewable energy projects as part of a new memorandum of understanding signed between the two companies on Wednesday.
The projects will supply 400 megawatts of energy round the clock for the requirements of Hindustan Petroleum .
This MoU marks the first step for NGEL and HPCL to collaborate in renewable energy projects which could help HPCL in meeting its clean energy commitments.
Reportedly, state refiner HPCL is working on a plan for net zero carbon emissions by 2040. India, the world’s third-biggest greenhouse gas emitter, is aiming to reach net zero emissions by 2070.
Apart from HPCL, in the past, NTPC renewables have signed MoUs and joint venture with ONGC and IOC for developing green energy assets. In July last year, NTPC renewable signed an MoU with IOC for supplying RE-round- the- clock power supply to IOC. Similarly, NTPC and ONGC had signed MoUs to accelerate their footprint in the renewable energy and boost the development of offshore wind energy in India.
In a bid to reduce the carbon emission, NTPC also commissioned India’s first green hydrogen blending project on Wednesday . The green hydrogen blending has been started in the piped natural gas (PNG) network of NTPC Kawas township, Surat. The project is a joint effort of NTPC and Gujarat Gas Limited (GGL).
NTPCs aggressive green energy initiatives have enabled company to crosses the 1-gigawatt (GW) annual capacity mark in the renewable energy segment by adding 1,075 megawatt (MW) capacity in financial year FY23.