State-owned NTPC is looking at green hydrogen and battery storage to drive energy transition and is moving away from coal-based projects, said its Executive Director, Mohit Bhargava.
NTPC has set a 32-gigawatt (GW) renewable energy (RE) capacity target by 2032, which is 25 per cent of its total planned capacity of 130 GW. It is also planning to have 10 GW of solar energy by 2022, which entails an investment of about Rs 50,000 crore.
“We are no longer looking at new greenfield coal-based projects. We are looking at renewables in a big way and ultimately want to be a large RE player not only within the country but also use renewables as a pillar to promote green hydrogen. We are looking at both green hydrogen and battery storage… In our overall frame of things green hydrogen would play a very important role,” said Bhargava at ETEneryworld’s Energy Transition Summit on Thursday.
According to many studies, green hydrogen could be a major player not only in terms of fuel but also in being a feedstock as hydrogen, methanol, and ammonia.
In October 2020, NTPC had incorporated a wholly-owned subsidiary for its renewable energy business.