State-owned power generation company NTPC has signed a Memorandum of Understanding (MoU) with Tecnimont Private Limited - which is the Indian subsidiary of Italy's Maire Tecnimont Group.
The objective of the MOU, which is non-binding in nature, is to jointly evaluate and explore the possibility to develop a commercial-scale green methanol production facility at NTPC.
Green Methanol Project involves capturing carbon from NTPC power plants and converting it into green fuel.
It 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, and is also considered as a substitute fuel for maritime fuel applications, the Ministry of Power said in a statement.
CK Mondal, Director (Commercial), NTPC noted that this project along with NTPCs 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.
( With inputs from ANI )
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