NTPC, OIL sign MoU for renewable energy and green hydrogen

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NTPC, India’s largest power utility with a total installed capacity of 73 GW, and Oil India Ltd, a state-owned crude oil and natural gas company, have signed a Memorandum of Understanding to explore collaboration in the areas of renewable energy, green hydrogen and derivatives, geothermal and other decarbonization initiatives.

Under the MoU, the two partners will also share knowledge and experience on the upcoming decarbonisation technologies like carbon sequestration.

“The two Maharatna giants, through this MoU, intend to enhance their footprint in renewable energy domain and foray into sustainable solutions to advance the efforts towards achieving the nation’s net-zero targets,” read a joint statement by NTPC and Oil India Ltd.

NTPC targets GW of renewable energy capacity by 2032 and become a major player in green hydrogen technology and energy storage domain. The company is taking up several initiatives towards decarbonization such as hydrogen blending, carbon capture and fuel cell buses among others.

 

 

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