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NGEL inks MoU with RVUNL for development of renewable energy and Green Hydrogen projects

NTPC and its renewable energy arm NGEL have each signed a non-binding Memorandum of Understanding (MoU) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) in Jaipur today, 10th March 2024.

MoU between NTPC and RVUNL

The MoU between NTPC and RVUNL is to explore opportunities for adding supercritical units to the existing Chhabra Thermal Power Plant. Additionally, the parties aim to implement measures to enhance efficiency and reduce the power generation cost of the plant’s existing units. The MoU also includes the undertaking of 15-year to 20-year annuity-based Renovation and Modernization (R&M) of old thermal units of RVUNL, by NTPC or its affiliates. The MoU was signed by Executive Director, BD, IBD & Consultancy, NTPC, Shri R Sarangapani and Chairman and Managing Director, RVUNL, Shri Devender Shringi.

MoU between NGEL and RVUNL

The MoU between NTPC’s renewable energy arm NGEL and RVUNL is for development of Renewable Energy Projects up to 25 GW capacity and Green Hydrogen Derivatives up to 1 million Ton capacity, both in the state of Rajasthan. The MoU was signed by Chief Executive Officer, NGEL, Shri Rajiv Gupta and Chairman and Managing Director, RVUNL, Shri Devender Shringi.

The MoUs were signed at a signing ceremony which took place at the Chief Minister’s Office, in the presence of Chief Minister of Rajasthan, Shri Bhajan Lal Sharma; with the Union Minister for Power and New and Renewable Energy, Shri R. K. Singh and the Union Minister for Coal and Mines Shri Pralhad Joshi attending the event virtually through video-conference. Deputy Chief Minister of Rajasthan, Smt. Diya Kumari; Minister of State for the Energy Department, Government of Rajasthan, Shri Heeralal Nagar; Union Coal Secretary Shri Amrit Lal Meena; and Chief Secretary of Rajasthan, Shri Sudhansh Panth were also present.

On behalf of NTPC Ltd., Chairman and Managing Director, Shri Gurdeep Singh; Director (HR), Shri D.K Patel; and Independent Director Shri Vivek Gupta and other senior officials were present on the occasion.

NTPC Limited is India’s largest integrated power utility with more than 75 GW installed capacity, contributing 25% of India’s total electricity demand. By the year 2032, NTPC is looking to expand its non-fossil-based capacity to 45%-50% of the company’s total portfolio of 130 GW, with 60 GW of renewable energy capacity.

(With inputs from PIB)

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