NTPC signs MoU with Nayara Energy for green hydrogen

The MoU envisages collaboration to produce green hydrogen for Nayara Energy’s captive usage, accelerate decarbonisation and catalyse reduction in carbon footprint.

NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of India’s leading integrated power producer NTPC Limited, and Nayara Energy, a new-age international downstream energy company of international scale, have entered into a Memorandum of Understanding (MoU) to explore opportunities in the Green Hydrogen and Green Energy space.

The MoU envisages collaboration to produce green hydrogen for Nayara Energy’s captive usage, accelerate decarbonisation and catalyse reduction in carbon footprint. The collaboration is in line with NTPC’s initiatives to develop hydrogen projects in India and aligns with the vision of a self-reliant India (Atmanirbhar Bharat) as laid out by the Prime Minister.

Congratulating the team, Mohit Bhargava, CEO, NGEL said that this partnership will explore and implement cutting-edge technologies to produce Green Hydrogen. He said, “We are happy to join hands with Nayara Energy in our shared commitment to accelerate India’s transition to clean and sustainable energy sources. 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.”

While appreciating the efforts of NTPC for Green Hydrogen, Dr. Alois Virag, CEO, Nayara Energy, said that Nayara Energy being a prominent player in the energy industry, environmental sustainability is deeply ingrained in all business operations of the company. He said, “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 achieve the energy transition objectives of the country.”