What is the primary focus of the Memorandum of Understanding (MoU) between NTPC Green Energy Limited (NGEL) and Nayara Energy?

Solution

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. This partnership will explore and implement cutting-edge technologies to produce Green Hydrogen 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.