FEBRUARY 20248TOP STORIESNTPC ARM NGEL SIGN PACT WITH AP TO DEVELOP GREEN HYDROGEN PRODUCTION FACILITYPFC AND GOA GOVT SIGN AGREEMENT FOR GREEN ENERGY INITIATIVESNTPC arm NGEL has consented to an agreement with the public authority of Andhra Pradesh for the improvement of a coordinated green hydrogen center. NTPC Green Energy Limited (NGEL) and Andhra Pradesh Industrial Infrastructure Corporation (APIIC) signed a land lease agreement for the project near the Pudimadaka village of Atchutapuram Mandal in the Visakhapatnam district."The Pudimadaka Green Hydrogen Hub aims to create a world-class ecosystem for technologies in the new energy paradigm, such as electrolyser and fuel cell manufacturing, related ancillary industries, startup, incubation, testing facilities, production and export of green hydrogen and its derivatives (green ammonia/green methanol etc.)," the statement said.The project includes construction of India's largest green hydrogen production facility (1200 TPD tonne per day), which will be converted to derivatives of hydrogen such as green ammonia and green methanol, primarily catering to various export markets, as per ET.NTPC is India's biggest power utility with center business of force age having an all out introduced limit of 74 GW. NTPC Restricted, previously known as National Thermal Power Corporation, is an Indian focal Public Area Undertaking under the responsibility for Ministry of Force and the Government of India, who is taken part in the age of electricity and different exercises. The central command of the PSU are arranged at New Delhi. NTPC's center capability is the age and appropriation of power to State Electricity Boards in India.NGEL is an entirely possessed auxiliary of NTPC with a functional limit of over 3.4 GW and 26 GW in pipeline, including 7 GW under execution. PFC said it has consented to an arrangement with the Goa government to help different green energy initiatives in the state to handle environmental change. An Update of Figuring out (MoU) was endorsed within the sight of Goa Boss Priest Pramod Sawant, Power Money Partnership (PFC) said in an explanation."Under the MoU, PFC, through innovative blended finance mechanisms in cooperation with this facility, will fund key climate projects such as renewable energy, green hydrogen, electric vehicles, waste-to-wealth technology and nature-based solutions leading to energy transition," it said.The Goa government will work with the execution of the office by recognizing and fostering a pipeline of environment projects, advancing strategy choices and working with cooperation among partners, it said.Financial institutions World Bank, SIDBI and NABARD are also part of the programme, as per ET."India is committed to achieving Panchamrit and net-zero emissions by 2070. PFC is going to play a pivotal role in aligning with the government's commitment to net-zero (emissions) through this milestone initiative in the area of blended financing for achieving energy transition," PFC Chairman and Managing Director Parminder Chopra said.Power Money Enterprise Ltd is an Indian focal public area undertaking under the responsibility for Service of Influence, Legislature of India. Laid out in 1986, it is the monetary spine of Indian power area. PFC's total assets as on 30 June 2023 is INR 1,184 billion. PFC is the eighth most noteworthy benefit unveiling Focal Area Undertaking (CPSU) according to the Branch of Public Endeavors Overview for FY 2017-18.
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