NTPC will install 13.4 gigawatts (GW) of solar power and 6.6 GW of pumped storage project (PSP) in coastal Andhra Pradesh as part of its more than Rs 1 trillion green hydrogen hub. According to sources, the largest power producer in India would install a total of 20 GW of renewable power capacity, including storage, which will be used to manufacture green hydrogen via electrolysis. The hub was established with the intention of concentrating on exports to South Asia, especially for green hydrogen and green methanol. Additionally, discussions are ongoing to produce green ammonia and ship it to the UK, according to one of the sources.
The AP Industrial Investment Corporation (APIIC) has allocated the property at Pudimadaka, a seaside community about 50 kilometres from Visakhapatnam, and the project is anticipated to be finished by 2030, with the first half probably by 2026-2027. With domestic and foreign businesses, NTPC is holding discussions about the production of electrolysers and other green energy goods and services. NTPC has transferred all of its green energy projects to NTPC Green Energy (NGEL), according to a senior government official. This is a component of the Maharatna Company's evolving strategy to diversify into green energy from the renewables sector in light of potential future growth prospects in the clean energy transition.
The goal is to establish a business that specialises in the full spectrum of green energy technologies, goods, and services. There is a very good probability that NGEL's valuation may one day surpass that of its parent company due to the anticipated increase in clean energy projects internationally, the executive continued. The government anticipates NGEL's base to increase as India concentrates on keeping its COP26 commitments and growing its green energy industry. According to a senior government official, the government plans to use the park to target the South Asian and European markets for green energy goods, services, and technologies because India has enough land and trained labour. Although nothing has been decided as of yet, discussions are already underway with an Australian company to establish green hydrogen production facilities.
