NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Limited, and Nayara Energy, have signed a Memorandum of Understanding (MoU) to collaborate in the Green Hydrogen and Green Energy sector.
Nayara is an Indo-Russian oil Refining and Marketing company that owns and operates Vadinar refinery located at Vadinar, Gujarat, India with a capacity of 20 MMTPA, making it the second largest in India.
This partnership aims to produce Green Hydrogen for Nayara Energy’s internal use, accelerate decarbonization efforts, and reduce carbon emissions. The collaboration aligns with NTPC’s hydrogen projects in India and the vision of a self-reliant India (Atmanirbhar Bharat) outlined by the Prime Minister.
CEO of NGEL, Shri Mohit Bhargava, emphasized the significance of exploring advanced technologies to produce Green Hydrogen and expressed the commitment to transitioning India to cleaner and sustainable energy sources. He noted that Green Hydrogen plays a crucial role in India’s clean energy future, and this partnership will contribute to a greener and more resilient energy landscape.
CEO of Nayara Energy, Dr. Alois Virag, commended NTPC’s efforts in Green Hydrogen and highlighted the company’s commitment to environmental sustainability. He expressed the importance of the partnership with NTPC, a leader in Green Energy, in achieving India’s energy transition goals.
NTPC, India’s largest power utility, has a substantial renewable energy portfolio and has established NGEL to work on Renewable Energy Parks and Projects, including Green Hydrogen and Energy Storage Technologies. The NTPC Group has ambitious plans to reach 60 GW of renewable energy capacity by 2032, with over 3 GW currently in operation.
Nayara Energy is an integrated downstream company with a strong presence in the hydrocarbon value chain, including refining and retail. It owns one of India’s largest single-site refineries and operates over 6,000 retail outlets across the country.