NTPC and OIL Ink MoU To Collaborately Work on Renewable Energy, Green Hydrogen and Carbon Capturing

India’s largest power company, NTPC Limited, and the second-largest national oil and gas company of India, Oil India Limited, have signed a Memorandum of Understanding (MoU) on 31st August 2023, to explore collaboration in the areas of renewable energy, green hydrogen and its derivatives, and decarbonization initiatives including through use of geothermal energy.

The MoU shall also facilitate sharing of knowledge and experience on upcoming decarbonisation technologies such as carbon sequestration. Carbon sequestration is the process of capturing and storing atmospheric carbon dioxide

Through the MoU, the two energy giants intend to enhance their footprint in the domain of renewable energy and foray into sustainable solutions towards achieving the nation’s target of achieving Net Zero by the year 2070.

Last September, NTPC's Research & Development laboratory – NETRA, had set up a carbon capture plant at NTPC Vindhyachal. This plant has been designed to capture 20 tonnes of carbon dioxide (CO2) per day, which will use a modified tertiary amine to capture CO2 from the flue gas of the power plant. The CO2 will eventually be combined with hydrogen to produce 10 tonnes per day of methanol through a catalytic hydrogenation process.

NTPC is present across the power sector value chain, with a total installed capacity of 73,024 MW. Oil India Limited is a state-owned oil company engaged in the business of exploration, development and production of crude oil and natural gas.

NTPC is attempting to foray into green hydrogen since last couple of years. In July 2021, NTPC Renewable Energy Ltd (NTPC REL), NTPC’s wholly owned subsidiary had invited a domestic tender to set up India’s first Green Hydrogen Fuelling Station in Leh, Ladakh. Later in July 2022, NTPC REL awarded this project to Amara Raja Power Systems.

NTPC is committed to achieve 60 GW of Renewable Energy capacity by the year 2032. It aims to be a major player in Green Hydrogen Technology and Energy Storage domain. The company is taking up several initiatives towards decarbonization such as Hydrogen blending, Carbon Capture and Fuel cell, buses among others.

Last November, NITI Aayog released a report, titled ‘Carbon Capture, Utilisation, and Storage Policy Framework and its Deployment Mechanism in India’. The report explored the importance of Carbon Capture, Utilisation, and Storage as an emission reduction strategy to achieve deep decarbonization from the hard-to-abate sectors. The report outlines broad level policy interventions needed across various sectors for its application.

Besides working in energy sector, NTPC is also putting efforts in women empowerment through entrepreneurship, as recently CSR Division of NTPC has signed an MoU with Entrepreneurship Development Institute of India (EDII), Ahmedabad, to facilitate New Enterprise Creation among the underprivileged women in the vicinity of NTPC Noida unit.
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