NTPC Green Energy, UP Govt Sign MoU for Renewables & Hydrogen

• NGEL signed an agreement to develop renewable energy and green hydrogen projects in UP
• The company has launched 37.5 MW of its 150 MW solar project in Bhuj, Gujarat
• NGEL shares rose 2.04%, closing at ₹91.2

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has entered into a Memorandum of Understanding (MoU) with the Uttar Pradesh government to develop large-scale renewable energy and green hydrogen projects in the state.

The World Economic Forum Annual Meeting in Davos, Switzerland, served as the venue for signing the MoU which established a significant milestone to support the state's transition towards clean energy solutions.

Vijay Kiran Anand IAS, who serves as the CEO of Invest UP and UPSIDA, and DMR Panda, who holds the position of Executive Director at NGEL, established the formal agreement between their organizations.

The partnership aims to enhance the development of environmentally friendly energy solutions which will establish Uttar Pradesh as a central component of India's renewable energy development plan.

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NGEL announced its first solar power plant operation between 37.5 MW to 150 MW capacity at its Bhuj solar project which operates under Ayana Renewable Power Four Private Limited in Gujarat.

This addition strengthens NGEL's position in the renewable energy sector, expanding its capacity to deliver clean power across the country.

NGEL stock increased 2.04 percent to reach ₹91.2 at market closing after the company announced its new green energy initiatives which investors believed would help its future development. The MoU with Uttar Pradesh will lead to more upcoming projects between the two parties.