NTPC and Tecnimont Sign MOU to Explore Green Methanol Production

NTPC, India's largest power generation company, has signed a non-binding Memorandum of Understanding (MOU) with Tecnimont Private Limited, Indian Subsidiary of Maire Tecnimont Group, Italy. The objective of the MOU is to jointly evaluate and explore the possibility to develop commercial scale Green Methanol Production facility at a NTPC project in India.

The Green Methanol Project involves capturing carbon from NTPC power plants and converting it into a green fuel. Green Methanol has a wide range of applications, including serving as a base material for the chemical industry, storing renewable electricity, and even as a transportation fuel. It is also considered as a substitute fuel for maritime fuel applications.

Director (Commercial), NTPC, Shri CK Mondol said, "This project along with NTPC's under execution Pilot scale Green Methanol project aligns with NTPC's commitment to sustainability and renewable energy, and will significantly contribute to India's energy transition."

Shares of NTPC Limited was last trading in BSE at Rs. 165.55 as compared to the previous close of Rs. 163.15. The total number of shares traded during the day was 502229 in over 5977 trades.

The stock hit an intraday high of Rs. 167.65 and intraday low of 161.20. The net turnover during the day was Rs. 83190139.00.

Source : Equity Bulls

Keywords

NTPC INE733E01010 MoU Tecnimont