State-run NTPC Green Energy (NGEL) announced that it has signed an agreement with the government of Maharashtra for the development of green hydrogen and its derivatives such as green ammonia and green methanol of up to 1 million tonne capacity per annum.
?The MoU has been signed as part of the government of Maharashtra?s green investment plan for the next five years. The agreement envisages a potential investment of approximately Rs 80,000 crore," said an official statement from the Union ministry of power.
As per the statement, the agreement also includes the creation of pumped storage projects of 2 gigawatts (GW) and the development of renewable energy projects with or without storage up to 5 GW in the state.
The agreement was signed between NGEL chief executive officer Mohit Bhargava and deputy energy secretary of the government of Maharashtra, Narayan Karad.
