NGEL Inks MoU with Maharashtra Government for Green Hydrogen and RE Development
The MoU is a pivotal component of the Government of Maharashtra's ambitious Green Investment Plan for the next five years, projecting a potential investment of approximately INR 80,000 crores.
January 30, 2024. By Abha Rustagi
Additionally, the MoU encompasses the creation of Pumped Storage Projects with a capacity of 2 GW and the development of renewable energy projects, with or without storage, totaling up to 5 GW in the state.
The MoU is a pivotal component of the Government of Maharashtra's ambitious Green Investment Plan for the next five years, projecting a potential investment of approximately INR 80,000 crores.
The exchange of the MoU took place in the presence of key dignitaries including Chief Minister of Maharashtra, Eknath Shinde, Deputy Chief Minister, Devendra Fadnavis, Chief Executive Officer of NGEL, Mohit Bhargava, and Deputy Secretary (Energy) of the Government of Maharashtra, Narayan Karad.
The collaborative effort between NGEL and the Maharashtra Government signifies a strategic move towards green and sustainable energy solutions. The envisioned investment is expected to pave the way for significant advancements in the renewable energy sector within the state.
Highlighting its commitment to renewable energy, NTPC aims to achieve a formidable renewable energy capacity of 60 GW by the year 2032. NGEL, as NTPC's subsidiary, aspires to lead the charge in NTPC's Renewable Energy journey, boasting an operational capacity exceeding 3.4 GW and an impressive pipeline of 26 GW, including 7 GW currently under implementation.
This partnership sets the stage for a substantial contribution to India's renewable energy landscape, fostering innovation and sustainable practices in the pursuit of a greener and more energy-efficient future.
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