NTPC Green Energy, Nayara to develop green hydrogen projects in India
SUMMARY
The MoU aims to collaborate and produce green hydrogen for Nayara Energy's captive usage. [Image: NTPC]
By Shardul SharmaPOSTED IN:
NTPC Green Energy (NGEL), a wholly owned subsidiary of Indian state-owned power producer NTPC, and energy company Nayara Energy have entered into a memorandum of understanding (MoU) to explore opportunities in the green hydrogen and green energy space, NTPC announced on September 11.
The MoU aims to collaborate and produce green hydrogen for Nayara Energy's captive usage, accelerate decarbonisation and catalyse reduction in carbon footprint. This collaboration is in line with NTPC's initiatives to develop hydrogen projects in India.
"Green Hydrogen would be a crucial element of India's clean energy future, and with this partnership, we will explore and implement cutting-edge technologies to produce green hydrogen, contributing to a cleaner and more resilient energy landscape," said Mohit Bhargava, CEO NGEL.
"Today, we take an important step forward by partnering with NTPC, leaders in green energy business, to explore the potential of green hydrogen. This collaboration will contribute to achieving the energy transition objectives of the country," said Alois Virag, CEO, Nayara Energy.
Green hydrogen is produced by using renewable energy sources, such as solar and wind power, to split water molecules into hydrogen and oxygen. It is a clean and emissions-free fuel that can be used to power vehicles, heat homes, and generate electricity.
