Indian government-run power producer NTPC Limited has signed a memorandum of understanding with the Indian government for a green hydrogen project entailing investments of $7.8 billion, government sources said on Wednesday, February 21.
As per the agreement, NTPC Limited would spread its investment until 2032, starting with a production capacity of 1,100 mt per day and ramping it up to levels of 6,000 mt per day, and subsequently bringing a global company into the project.
As per the project feasibility report, it would be part of the Green Hydrogen Hub proposed to be located in the southern state of Andhra Pradesh and the first phase would be completed by 2026.
Apart from green hydrogen, the NTPC Limited project would also produce green ammonia and green methanol for exports to southeast Asian markets.