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NGEL ties up with Andhra agency for development of green energy projects | Company Business News

Livemint

Livemint · 11m ago

NGEL ties up with Andhra agency for development of green energy projects | Company Business News

NTPC Green Energy Ltd (NGEL) has entered into a joint venture agreement with New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP) for the development of green energy projects. The joint venture aims to develop 25 GW of renewable energy projects, along with green hydrogen and pumped storage projects (PSP), which will bring significant investment and job opportunities to the state. The agreement comes just before the foundation laying ceremony for NGEL's green hydrogen hub in Andhra Pradesh. NGEL is also in talks with potential buyers, including Toyo Engineering Corp., Getek AS, and Fortescue, to supply green hydrogen from the hub.

Related News

NTPC Green Energy signs pact for projects worth Rs 2 Lakh Cr in Andhra Pradesh

YourStory

YourStory · 11m ago

NTPC Green Energy signs pact for projects worth Rs 2 Lakh Cr in Andhra Pradesh

NTPC Green Energy Ltd (NGEL), the renewable energy arm of NTPC, has signed a joint venture with NREDCAP to develop renewable energy projects in Andhra Pradesh worth Rs 2 lakh crore. The collaboration aims to focus on solar and wind power, pumped storage projects, and green hydrogen. The project is expected to create over 100,000 jobs and establish Andhra Pradesh as a leader in renewable energy. NGEL recently launched its Rs 10,000 crore IPO, which was fully subscribed on the third day of the share sale.

NTPC Green Energy arm bags 300 MW solar project from NHPC

YourStory

YourStory · 9m ago

NTPC Green Energy arm bags 300 MW solar project from NHPC

NTPC Green Energy Limited (NGEL) announced that its renewable arm, NTPC Renewable Energy Limited (NTPC REL), won a 300 MW solar project from the National Hydroelectric Power Corporation (NHPC) through an e-reverse auction. The project entails setting up a solar power plant with an energy storage system of 150 MW/300 MWh at a tariff of Rs 3.09/kWh. This win follows a major agreement by NGEL to develop renewable energy projects worth Rs 2 lakh crore in Andhra Pradesh.

NTPC Green, Mahapreit in JV to develop 10 GW green capacity | Mint

Livemint

Livemint · 1y ago

NTPC Green, Mahapreit in JV to develop 10 GW green capacity | Mint

NTPC Green Energy Ltd (NGEL) has partnered with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (Mahapreit) to develop 10 GW of renewable energy parks and projects in Maharashtra and other states. NGEL, a subsidiary of NTPC, is preparing for an IPO to raise ₹10,000 crore and aims to reach a capacity of over 60 GW by 2030. The company plans to expand its renewable energy business, complete ongoing projects, and explore partnerships with both public and private entities.

NGEL inks land lease agreement with AP for green hydrogen hub

Thehindubusinessline

Thehindubusinessline · 1y ago

NGEL inks land lease agreement with AP for green hydrogen hub

India's state-run NTPC's green energy arm, NGEL, has signed a land lease agreement with Andhra Pradesh to establish a green hydrogen hub. The hub, to be developed on 1,200 acres of land near Pudimadaka village in Visakhapatnam, aims to create a world-class ecosystem for green energy technologies, including hydrogen production and related industries. The project includes the construction of India's largest green hydrogen production facility, with a capacity of 1,200 tonnes per day, for the production of green ammonia and green methanol. NTPC aims to have 60 GW of renewable energy capacity by 2032.

NTPC arm in talks with HPCL, Hindalco for green hydrogen supply joint ventures

Livemint

Livemint · 1y ago

NTPC arm in talks with HPCL, Hindalco for green hydrogen supply joint ventures

NTPC Green Energy Ltd (NGEL) is reportedly in talks with Hindustan Petroleum Corporation Ltd (HPCL) and Hindalco Industries to supply them with green hydrogen. NGEL, a subsidiary of NTPC Ltd, is considering joint ventures like the one it has with IndianOil Corporation Limited (IOCL) to cater to the captive requirement of these companies. With the focus on India's net-zero target by 2070, the adoption of green hydrogen in industries, instead of grey hydrogen, is gaining importance. NGEL is also planning to raise funds through an IPO and expand its presence in the energy transition space.

AP may clear Rs 12,700 cr green projects this week

Economic Times

Economic Times · 1m ago

AP may clear Rs 12,700 cr green projects this week

The Andhra Pradesh Cabinet is expected to approve green energy projects totaling 2,625 MW with a ₹12,700 crore investment. These projects involve the Solar Energy Corporation of India and companies like Serentica Renewables. The state aims to attract fund-backed developers for rapid project execution and plans to invest ₹30 lakh crore over five years, focusing on a balanced energy mix. Green energy hubs and corridors are part of the state’s long-term vision.

Ireda eyes overseas lending, borrowing from green funds via GIFT City arm

Livemint

Livemint · 1y ago

Ireda eyes overseas lending, borrowing from green funds via GIFT City arm

The Indian Renewable Energy Development Agency (Ireda) is exploring the possibility of financing projects abroad through its subsidiary, Ireda Global Green Energy Finance IFSC Ltd. The subsidiary, based in Gujarat's GIFT City, aims to finance solar component manufacturing and green hydrogen businesses in India, as well as cater to export demand. Ireda is planning to borrow and lend from its GIFT City office, eliminating the need for foreign currency conversion. It also intends to approach green funds for financing projects and make its debut in the international market. The company is awaiting approval for its proposed follow-on public offering to raise around INR 4,500-5,000 crore.

Apollo Green Energy plans ₹1,500 crore capex to capitalize on India’s renewables push | Company Business News

Livemint

Livemint · 11m ago

Apollo Green Energy plans ₹1,500 crore capex to capitalize on India’s renewables push | Company Business News

Apollo Group's engineering and construction division, Apollo Green Energy, plans to invest ₹1,500 crore in expanding its capacity and undertaking renewable energy projects for the government and public sector. The company aims to raise capital through an initial public offering in order to fund its expansion plans. Apollo Green Energy has already secured orders worth nearly ₹2,830 crore, primarily for solar projects. The company is optimistic about India's goal of reaching 500 GW of renewable energy capacity by 2030, which could potentially generate projects worth ₹1.25 trillion. Apollo Green Energy aims to increase its portfolio from ₹3,500 crore to ₹10,000 crore next year.

Andhra govt cancels two Adani projects at company's request

Economic Times

Economic Times · 2m ago

Andhra govt cancels two Adani projects at company's request

The Andhra Pradesh government cancelled two Adani Green Energy Ltd's pumped hydro storage power projects due to local issues. The cancellation of the 1,200 MW Kurukutti and 1,000 MW Karrivalasa projects was requested by AGEL due to boundary disputes between Andhra Pradesh and Odisha. AGEL sought to adjust funds spent on facilitation for new projects due to survey difficulties. The State Investment Promotion Board agreed to the cancellations based on the developer's request.

Mumbai's Advaada Group to invest Rs 40,000Cr for renewable projects in Gujarat

IndianStartupNews

IndianStartupNews · 1y ago

Mumbai's Advaada Group to invest Rs 40,000Cr for renewable projects in Gujarat

Mumbai-based sustainable energy company Avaada Group has pledged an investment of Rs 40,000 crore for the development of hybrid wind-solar projects in Gujarat. This initiative, which aims to create 6,000 MW capacity, will focus on setting up projects in underdeveloped areas of Kutch. It is expected to generate 17.5 billion units of green electricity annually, reducing around 16.3 million tonnes of CO2 emissions. The project will also create 1,200 direct and indirect jobs and contribute to India's green energy supply. Avaada Group is involved in various green initiatives, including green hydrogen and sustainable aviation fuel production.

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