NTPC Green Energy Limited (NGEL) has entered into a pact with Nayara Energy to explore opportunities in the green hydrogen space.

NTPC said in a statement, on Monday the memorandum of understanding (MoU) was signed between NGEL CEO Mohit Bhargava and Nayara Energy Head-Technical Amar Kumar, in the presence of other senior officials of both sides.

“NGEL and Nayara Energy have entered into an MoU today to explore opportunities in the green hydrogen and green energy space,” it said.

NTPC Green Energy Limited is a subsidiary of energy major NTPC.

The government’s vision of Atmanirbhar Bharat and NTPC’s endeavors to create hydrogen projects in India are both supported by this collaboration.

NGEL CEO Bhargava said, green hydrogen would be a crucial element of India’s clean energy future, and with this partnership, the company will explore and implement cutting-edge technologies to produce green hydrogen.

NTPC, under the Ministry of Power, is India’s largest power utility having a total installed capacity of over 73 gigawatts (GW).

NTPC Group has a plan to build a renewable energy capacity of 60 GW by 2032 and is working on a pipeline of over 20 GW. 

On Tuesday at 11.50 NTPC shares were trading 1.2% down at Rs. 239.85 on BSE.

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