Home > Current Affairs > National > NTPC Green Energy and Nayara Energy will work together for green hydrogen production

NTPC Green Energy and Nayara Energy will work together for green hydrogen production

Utkarsh Classes 12-09-2023
NTPC Green Energy and Nayara Energy will work together for green hydrogen production Energy 4 min read

The NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, India's leading integrated power generation company, and Nayara Energy, an international downstream energy company, have signed a Memorandum of Understanding (MoU) on 11 September 2023.

The MoU signing ceremony was attended by CEO, NGEL, Mohit Bhargava and Head-Technical, Nayara Energy, Amar Kumar along with other senior officials of NTPC, NGEL and Nayara Energy.

  • The objective of this agreement is to explore opportunities in the green hydrogen and green energy sector.
  • The MoU envisages collaboration to produce green hydrogen for Nayara Energy's own use, accelerate decarbonization and reduce carbon emissions.

Promote hydrogen projects in India:

  • This collaboration is being undertaken at the initiative of NTPC to develop hydrogen projects in India and is in line with the Prime Minister's vision of a self-reliant India.
  • This partnership will explore and apply cutting-edge technologies to produce green hydrogen.
  • Appreciating the efforts of NTPC for Green Hydrogen, Dr. Alois Virag, CEO, Nayara Energy, informed that Nayara Energy is a leading entity in the energy industry and is deeply embedded in all business operations towards environment friendliness.

National Thermal Power Corporation (NTPC):

  • Established: 1975
  • Headquarters: New Delhi
  • NTPC is India's largest power company, with a total installed capacity of more than 73 GW.
  • As part of increasing its renewable energy portfolio, a wholly-owned subsidiary NGEL has been formed to take up Renewable Energy Parks and Projects including businesses in the area of Green Hydrogen, Energy Storage Technologies, and Round-the-Clock RE Power. 
  • NTPC Group has a plan of 60 GW of RE capacity by the year 2032 and is currently working on a pipeline of 20+ GW, out of which over 3 GW is operational capacity.
  • Its objective is to provide reliable power and related solutions in an affordable, efficient and environment-friendly manner driven by innovation.
  • It was declared a Maharatna company in May 2010.

Nayara Energy:

  • Nayara Energy is an internationally integrated downstream company with a strong presence across the hydrocarbon value chain from refining to retail.
  • Nayara Energy operates India's second largest single-site refinery at Vadinar, Gujarat with a capacity of 20 MMTPA.
  • It is one of the most modern and sophisticated refineries in the world with a density of 11.8.
  • The company has over 6,000 operational retail outlets across India.

FAQ

Ans. - Nayara Energy
Leave a Review

Utkarsh Classes
DOWNLOAD OUR APP

Download India's Best Educational App

With the trust and confidence that our students have placed in us, the Utkarsh Mobile App has become India’s Best Educational App on the Google Play Store. We are striving to maintain the legacy by updating unique features in the app for the facility of our aspirants.