NGEL, HPCL sign an agreement to develop green energy projects

Tags: National Economy/Finance

NTPC Green Energy Ltd (NGEL) has signed an agreement with Hindustan Petroleum Corporation Ltd (HPCL) for the development of renewable energy-based power projects for HPCL Refineries and other Business Units.

The agreement was signed on 3 January 2023 in New Delhi by Mr Neeraj Sharma, Head of Finance, NGEL and Shri Shuvendu Gupta, Executive Director- BioFuels & Renewables, HPCL.

Under the agreement NGEL which is a subsidiary of NTPC will supply 400 MW renewable power to the HPCL 

This MoU marks the first step for NGEL and HPCL to collaborate and cooperate in the field of development of Renewable Energy projects which shall help HPCL in meeting its Clean Energy Commitments.