NTPC Green Energy Limited joins hands with Andhra Pradesh Industrial Infrastructure Corporation to develop an integrated green hydrogen industrial park worth INR 65,370 crore in three phases at 1200 acres land of Visakhapatnam.
Feb 22, 2024
The National Thermal Power Corporation (NTPC) Limited has signed a land lease agreement with the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) to build a world-class ecosystem for green technologies in the new energy paradigm with a total investment of INR 65,370 crore in three phases by 2032.
The agreement was signed on February 20, 2024 between NTPC Green Energy Limited (NGEL) and APIIC for the development of an integrated green hydrogen hub at 1,200 acres land near Pudimadaka village of Atchutapuram Mandal in Visakhapatnam.
While the first phase will be ready by 2026 with an investment of INR 681 crore, the second phase will require an outlay of INR 31,200 crore. The final phase will be completed by 2032 with an infusion of another INR 33,489 crore.
The project entails creating an ecosystem for technologies such as electrolyser and fuel cell manufacturing, related ancillary industries, start-up, incubation, testing facilities, production and export of green hydrogen and its derivatives such as green ammonia and green methanol.
It also includes construction of India’s largest green hydrogen production facility having capacity of 1,200 tonnes per day, to be operated in collaboration with other global companies. It will enable further conversion of green hydrogen to derivatives such as green ammonia (6,000 TPD) and green methanol (300 TPD), primarily catering to the South Asian export market.
The project will realize the green energy and green hydrogen objectives of NTPC Limited, while also contributing to the Government of India’s efforts towards energy transition. It will further help in achieving India’s decarbonization goals.
NTPC is the country’s largest power utility in the core business of power generation, with a total installed capacity of 74 GW (including joint ventures and subsidiaries).
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In order to increase its renewable energy portfolio, the Power PSU had formed a fully-owned subsidiary NTPC Green Energy Limited (NGEL), which takes up Renewable Energy Parks and Projects, including business in the area of Green Hydrogen, Energy Storage Technologies, and Round-the-Clock renewable energy power.
The NTPC Group currently has 3.4 GW of installed RE capacity and 22-plus GW under pipeline. It has ambitious plans of attaining 60 GW of renewable energy capacity by 2032.
The Ministry of New and Renewable Energy is implementing the National Green Hydrogen Mission, approved by the Union Cabinet on January 4, 2023, with an outlay of INR 19,744 crore. The overarching objective of the mission is to make India the global hub for production, usage and export of green hydrogen and its derivatives.
