KPI Green Energy has secured three orders worth ₹128 crore from NTPC for setting up a green hydrogen project at NTPC’s facility in Greater Noida, Uttar Pradesh, reports Financial Express.
In a regulatory filing, the company said NTPC has issued three separate awards amounting to ₹128.49 crore, excluding GST. The project involves setting up a green hydrogen plant with a production capacity of one tonne per day. The contract also includes operations and maintenance of the facility for a period of two years.
According to KPI Green Energy, the scope of work includes the design, engineering, manufacturing and supply of plant and equipment along with mandatory spare parts. The project also covers transportation, installation, testing, pre-commissioning and commissioning of the plant. Civil construction and structural steel works, as well as safety-related requirements, are also part of the contract, along with two years of operation and maintenance support.
The project will use plasma gasification technology, which allows the conversion of municipal solid waste, refuse-derived fuel and agricultural waste into synthesis gas. This gas can then be processed further to produce green hydrogen.
Following the announcement of the order, shares of KPI Green Energy closed at ₹429, nearly 2% higher than the previous session. Over the last five trading days, the stock has gained around 1%.
Shares of NTPC ended marginally lower at ₹322.4. Despite the slight dip, the stock has risen by more than 1% over the past five trading sessions.
