NTPC Green Energy and Bharat Light Power Collaborate on Green Hydrogen Projects
Key Ideas
- NTPC Green Energy signed an MoU with Bharat Light and Power to collaborate on green energy projects, focusing on green hydrogen initiatives and supporting India's carbon neutrality goals.
- The agreement includes exploring opportunities in off-take of green hydrogen and its derivatives, sale of captured carbon, and setting up necessary infrastructure for green hydrogen projects.
- NGEL will establish renewable energy installations and operate under the Build-Own-Operate model to align with Net Zero commitments, addressing the need for a carbon-neutral economy.
- Shares of NTPC Green Energy rose by 2.2% following the signing of the MoU, showcasing positive market response to the collaboration for green energy initiatives.
NTPC Green Energy Limited (NGEL) has signed a Memorandum of Understanding (MoU) with Bharat Light and Power (BLP) to collaborate on green energy projects, with a specific focus on exploring opportunities in the off-take of green hydrogen and its derivatives. The agreement, formalized in New Delhi on February 19, 2025, also includes the sale of captured or biogenic carbon from NGEL's operations to third parties. NGEL and its affiliates will be responsible for setting up the necessary infrastructure for green hydrogen projects, including renewable energy installations and ensuring regular operations under the Build-Own-Operate model to fulfill the company's Net Zero commitments. The collaboration aims to support India's efforts towards achieving a carbon-neutral economy. The positive market response was evident as shares of NTPC Green Energy rose by 2.2% on the BSE after the announcement, indicating investor confidence in the green energy initiatives. This partnership signifies a step towards promoting renewable energy and sustainable practices in the Indian energy sector.