NTPC inks pact with Italy based firm for green methanol production
Tags: Economy/Finance National News
India's largest power generation company 'National Thermal Power Corporation Limited' (NTPC) has signed a non-binding Memorandum of Understanding (MoU) with Technimont Pvt Ltd, the Indian subsidiary of Italy-based Maire Tecnimont Group, on 26 December.
The objective of this MoU is to jointly evaluate and explore the possibility of developing a commercial scale green methanol production facility at NTPC's project in India.
This green methanol project involves capturing carbon from NTPC's power plants and converting it into green fuel.
This agreement will make a significant contribution to the energy transformation in India.
Green methanol has a wide range of applications. It also includes use as a base material for chemical industries, storage of renewable electricity and as a transportation fuel.
It is also considered as a substitute fuel for maritime fuel applications.
The pilot scale green methanol project is in line with NTPC's commitment towards sustainability and renewable energy.
The NTPC which was earlier known as National Thermal Power Corporation of India is owned by the Government of India. It was set up in 1975.
The Vindhyachal Thermal Power Station in the Singrauli district of Madhya Pradesh, with an installed capacity of 4,760MW, is currently the biggest thermal power plant in India.
It is a coal-based power plant owned and operated by NTPC.
The total installed commercial capacity of the company was 69454 MW before the JPL deal.
Headquarters: New Delhi
Chairman and Managing Director: Gurdeep Singh
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