NTPC Green Energy Ltd (NGEL) signed an agreement with Hindustan Petroleum Corporation Ltd (HPCL) for the development of renewable energy-based power projects. According to the agreement, NTPC informed that its renewable energy arm ‘NGEL’ will also supply 400MW round the clock to HPCL. The MoU has signed the development of renewable energy-based power to tap business opportunities in RE.
The MoU was signed in the presence of NTPC CMD Gurdeep Singh and Shuvendu Gupta, Executive Director, Bio Fuels & Renewable, HPCL, and other senior members.
NGEL and HPCL Signed MoU to Develop Green Energy Projects- Key Points
- The agreement between Hindustan Petroleum Corporation Ltd and NTPC Green Energy Ltd was signed on 3rd January 2023, in New Delhi.
- Under the agreement NGEL which is a subsidiary of NTPC will supply 400 MW of renewable power to the HPCL.
- The MoU between NTPC and HPCL marks the first step to collaborate and cooperate in the field of development of Renewable Energy Projects which shall help HPCL in meeting its clean energy Commitments.
About Hindustan Petroleum Corporation Ltd
Hindustan Petroleum Corporation Ltd (HPCL) is an Indian Oil and Gas refining company. Since 2018, ONGC has owned a majority stake in the company. The company is ranked 367th on the Fortune Global 500 list of the World’s biggest corporations as of 2016. On 24th October 2019, the company became a Maharatna PSU.
About National Thermal Power Corporation Ltd
NTPC Limited formerly known as National Thermal Power Corporation Limited is an Indian Central public sector undertaking under the ownership of the Ministry of Power, Government of India which is engaged in the generation of electricity and allied activities. NTPC’s core function is the generation and distribution of electricity to State Electricity Boards in India.