The state-owned energy giant NTPC has started construction on a hydrogen hub in Andhra Pradesh in order to establish industrial facilities for machinery, production, and export of green hydrogen and green ammonia. "NTPC is investing heavily in energy storage and hydrogen technologies. Recently, construction on a hydrogen hub at Pudimadaka, Andhra Pradesh, began. Jaikumar Srinivasan, director of finance at NTPC, stated during the company's Q4 FY23 earnings conference call that a storage tender for
9000 MWh had also been opened. In order to build a hydrogen hub close to Visakhapatnam, he noted, a non-binding Memorandum of Understanding had been signed with the Government of Andhra Pradesh. The project will involve setting up factories for the fabrication of equipment connected to hydrogen, as well as the production and export of green hydrogen and green ammonia. "NTPC has an operational renewable energy capacity of 3.2 GW and total RE capacity in the pipeline has exceeded 20 GW with various agreements in place," continued Srinivasan.
The RE portfolio of NTPC has been fully consolidated under NTPC Green Energy (NGEL). A business transfer agreement is used to transfer 15 RE assets, and a share purchase agreement is used to transfer 100% of the equity interest in NTPC Renwable Energy Ltd. (REL), an entirely owned subsidiary of NTPC.
Recently, NGEL and HPCL and IOCL inked an MoU to offer continuous renewable energy. While NREL inked a memorandum of understanding (MoU) with the Indian Army to build green hydrogen projects in army facilities. Additionally, NREL and Greenko have a term sheet in place for NREL to provide 13,000 MW of continuous RE.