NGEL signs MoU with Maharashtra Govt. for development of RE, pumped storage, and GH2 projects

NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC on Tuesday (Jan. 30) signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for developing green hydrogen and its derivatives, pumped storage projects, and renewable energy projects (with or without storage) in the state.

The MoU has been signed as a part of the govt. of Maharashtra's Green Investment Plan and is expected to bring about INR 80,000 crores in investment in the state in the next five years.

"NGEL has signed an MoU with the Government of Maharashtra for the development of green hydrogen and derivatives (green ammonia, green methanol) of up to 1 million ton capacity per annum, including pumped storage projects of 2 GW and development of renewable energy projects with or without storage up to 5 GW in the state," stated an official release by the Ministry of Power.

NGEL currently has 3.5GW of renewable energy projects in operations, 7GW under implementation and 26GW in the pipeline.