NTPC Green Energy Limited (NGEL) has entered into a Memorandum of Understanding (MoU) with the Maharashtra Government to undertake the development of Green Hydrogen and its derivatives, such as Green Ammonia and Green Methanol, with a capacity of up to 1 million tonnes per year. The agreement also encompasses the implementation of Pump Hydro Projects totaling 2 GW and the establishment of renewable energy projects, with or without storage, amounting to 5 GW in the state. NTPC aims to achieve a renewable energy capacity of 60 GW by 2032, as outlined in the company's official statement.

The MoU forms part of the Green Investment Plan of the Maharashtra government in the next five years and envisages a potential investment of approximately Rs 80, 000 crore. NGEL is a wholly-owned subsidiary of NTPC and aims to be the flag bearer of NTPC’s renewable energy journey with an operational capacity of over 3.4 GW and 26 GW in the pipeline including 7 GW under implementation.

The MoU was exchanged between Mohit Bhargava, Chief Executive Officer, NGEL and Narayan Karad, Deputy Secretary (Energy), Maharashtra in the presence of the Chief Minister, Deputy CM and other senior officials.