NGEL and HMEL tie up to collaborate in Renewable Energy and the generation of Green Hydrogen & synthesizing Green Chemicals
Mumbai, May 20th, 2023: In order to realize green energy and green hydrogen objectives and the GOI’s efforts towards energy transition, a Memorandum of Understanding (MoU) signed between NTPC Green Energy Limited (NGEL) and HPCL Mittal Energy Limited (HMEL) on 19th May 2023 at Noida. The MoU was signed by Shri V. V. Sivakumar, GM(NGEL) and Shri Girish Ghildiyal, GM(HMEL) in the presence of Shri Mohit Bhargava, CEO(NGEL) and Shri Harak Banthia, CFO (HMEL).
The MoU envisages to collaborate in the field of Renewable Energy through sourcing of 250 MW RE-RTC (Round-The-Clock) power to meet the requirement of HMEL and also exploring opportunities in the Green Hydrogen business & its derivatives (Green Ammonia & Green Methanol).
NTPC is India’s largest Power Utility and its core business of power generation with a total installed capacity of 72 GW (including JVs and subsidiaries). As part of increasing its renewable energy portfolio, a fully owned subsidiary has been formed as “NTPC Green Energy Limited” (NGEL) which shall take up Renewable Energy Parks and Projects including business in the area of Green Hydrogen, Energy Storage Technologies, and Round the Clock 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 11.3 MMTPA capacity at Bathinda, Punjab.