NREL, GACL to collaborate for renewable energy and synthesising green chemicals

State-owned power giant NTPC arm NTPC RE Ltd (NREL) and Gujarat Alkalies and Chemicals Ltd (GACL) have inked a pact to collaborate for renewable energy and synthesising green chemicals.

''To realise green energy and green hydrogen objectives and the government of India's efforts towards carbon-neutrality economy, a Memorandum of Understanding (MoU) was signed between NTPC RE Limited (NREL) and Gujarat Alkalies and Chemicals Limited (GACL) on 6th July 2022 at New Delhi,'' a company statement said.

According to the statement, the MoU was signed by Harshad R Patel, Managing Director, GACL, and Mohit Bhargava, Chief Executive Officer, NREL.

The MoU envisages to collaborate in the field of renewable energy, green methanol and green ammonia and mutually explore the opportunities for the supply of 100 MW RE-RTC (Round The Clock) power and synthesising 75 TPD green methanol and 35 TPD green ammonia for captive use for production of various chemicals by GACL at its Vadodara and Dahej plants in Gujarat.

The NREL, a 100 per cent subsidiary of NTPC, was incorporated in October, 2020 to take care of the RE business of NTPC.

This development comes in the backdrop of NTPC announcing its green hydrogen initiatives and plan to build the country's first pilot projects for synthesising green methanol, setting up green hydrogen filling station, green hydrogen blending into PNG and green energy storage project.

This would be the first commercial scale green ammonia and green methanol project in the country and align with the vision laid out by Prime Minister Narendra Modi for Atmanirbhar Bharat.

The NTPC is India's largest power utility and its core business is generation with total installed capacity of 69 GW (including those of JVs and subsidiaries).

As part of increasing its renewable energy portfolio, a fully-owned subsidiary has been formed on 7th October 2020 known as ''NTPC Renewable Energy Ltd'' (NREL) which shall take up renewable energy parks and projects, including business in the area of green hydrogen, energy storage technologies and round-the-clock renewable energy.

GACL, incorporated in Mar 1973, is a state-owned chemical manufacturing unit. GACL is one of the largest producers of caustic soda in the country, with a production capacity of over 1,400 TPD at their two complexes at Dahej and Vadodara.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)