Green energy stock, NTPC Green plans to develop green hydrogen hub worth Rs 1.8 trillion
This will be the first such project under India’s National Green Hydrogen Mission, with Prime Minister Narendra Modi set to lay the foundation stone for the project on January 8.
Green energy stock, NTPC Green plans to develop green hydrogen hub worth Rs 1.8 trillion
NTPC Green Energy Limited plans to develop a green hydrogen hub at an estimated cost of Rs 1.8 trillion ($21 billion) as the country aims to increase its supply of carbon-free fuel to meet growing demands. The project will be developed in Pudimadaka, located in the southern state of Andhra Pradesh.
This will be the first such project under India’s National Green Hydrogen Mission, with Prime Minister Narendra Modi set to lay the foundation stone for the project on January 8.
The investment will involve the development of 20 gigawatts of renewable energy capacity to produce 1,500 tons of green hydrogen per day. Additionally, the site will produce 7,500 tons of derivatives daily, including green methanol, green urea, and sustainable aviation fuel, primarily targeting the export market.
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Shares of NTPC Green Energy Limited increased, trading at Rs. 124.70, up by 1 percent, with a peak of Rs. 125.49 per share compared to the previous closing price of Rs. 124.26.
The ownership of NTPC Green Energy Limited is distributed as follows: promoters hold 89.01 percent, Foreign Institutional Investors (FIIs) possess 2.24 percent, Domestic Institutional Investors (DIIs) own 5.08 percent, and the public holds 3.68 percent. This diverse ownership structure demonstrates strong investor confidence in the company's growth prospects.
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