Tecnimont Private Limited (TCMPL), Indian subsidiary of Maire Tecnimont Group, on Monday announced it has signed a non-binding Memorandum of Understanding (MOU) with NTPC, India's largest power generation company, to develop green methanol projects in the country.

The objective of the MOU is to jointly evaluate and explore the possibility to develop commercial scale Green Methanol Production facilities at NTPC project in India, the company said in a release.

The Green Methanol Project involves capturing carbon from NTPC power plants and converting it into green fuel.

Green Methanol has a wide range of applications, including serving the chemical industry as a base material, being used as an energy carrier for storing electricity generated from renewable sources, and serving as a transportation fuel. It is also considered as a substitute fuel for maritime fuel applications.

Alessandro Bernini, Maire Tecnimont Group and NextChem CEO, commented: “This collaboration with a leading player such as NTPC represents another strategic milestone for Maire Tecnimont Group in its roadmap to consolidate its industrial footprint as technology provider and energy transition enabler for the Indian natural resource transformation market.”