State-run NTPC Green Energy (NGEL) on Monday said that it has signed a memorandum of understanding (MoU) with Nayara Energy to explore opportunities in the green hydrogen and green energy space.

The MoU envisages to collaborating and producing green hydrogen for Nayara Energy’s captive usage, accelerating decarbonisation and catalysing reduction in carbon footprint. This collaboration is in line with NTPC’s initiatives to develop hydrogen projects in India and aligns with the vision of Aatmanirbhar Bharat, NGEL said.

NGEL is a subsidiary of India’s largest power producer NTPC.

“Cutting-edge technologies”

NGEL CEO Mohit Bhargava said, “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.”

Nayara Energy CEO Alois Virag said “As a prominent player in the energy industry, environmental sustainability is deeply ingrained in all our business operations at Nayara Energy. Today, we take an important step forward by partnering with NTPC, leaders in the green energy business, to explore the potential of green hydrogen. This collaboration will contribute to achieve the energy transition objectives of the country.”

NTPC plans to install 60 gigawatts (GW) of RE capacity by 2032 and is currently working on a pipeline of more than 20 GW, out of which over 3 GW is operational capacity.

Nayara Energy owns India’s second largest single-site refinery at Vadinar, Gujarat with a capacity of 20 million tonnes per annum (MTPA). The company has over 6,000 operational retail outlets spread across India.