The Business Bytes
TBB BUREAU
NEW DELHI, DEC 26, 2022
India’s largest power generation company NTPC has signed a non-binding Memorandum of Understanding (MOU) with Tecnimont Private Limited, Indian subsidiary of Maire Tecnimont Group, Italy to jointly evaluate and explore the possibility to develop commercial scale Green Methanol Production facility at 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.
Speaking on the occasion, NTPC Director (Commercial) CK Mondal 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.”
Maire Tecnimont Group and NextChem CEO Alessandro Bernini commented: “This collaboration with a leading player such as NTPC represents another strategic milestone for Maire Tecnimont Group in its roadmap to consolidate its industrial footprint as technology provider and energy transition enabler for the Indian natural resource transformation market.”
