NTPC Share Price Jumps 1.52%; Co-Signs Pact to Develop Green Hydrogen Infra in Odisha

State-run power major NTPC announced on Monday that it has signed a tripartite Memorandum of Understanding (MoU) with GRIDCO (a Government of Odisha undertaking) and the Capital Region Urban Transport (CRUT), the state’s public transit agency, to establish green hydrogen infrastructure in Odisha. The agreement was signed as part of NTPC’s commitment to promote green energy technologies, focusing on advancing green hydrogen mobility initiatives in the region.

On December 24, 2024, NTPC share price jumped 1.52%, trading at ₹336.85 on the Bombay Stock Exchange (BSE) at 10:31 AM (IST). According to BSE data, the stock recorded a total traded volume of 1.58 lakh shares, with a turnover of ₹5.26 crore.

Key Highlights of the Partnership

The MoU aims to develop and implement a green hydrogen mobility scheme in Odisha. As part of this initiative:

• Hydrogen Fuelling Station in Bhubaneswar: NTPC will set up a green hydrogen fuelling station in Bhubaneswar to support clean mobility solutions.
• Hydrogen Buses Deployment: Hydrogen-powered buses will be introduced for both short-haul and long-haul operations, reducing reliance on fossil fuel-based transport.
• Decarbonization of Public Transit: The project opens the door to phasing out conventional fossil fuel buses in favour of clean and green fuels, significantly contributing to decarbonization and enhancing energy security in the state.

The Ministry of New and Renewable Energy has provided partial funding for the project in Bhubaneswar, underscoring its strategic importance to India’s renewable energy goals.

NTPC’s Broader Green Hydrogen Initiatives

NTPC has been a pioneer in green hydrogen projects across the country. The company has been successfully operating a green hydrogen blending project in Surat for the past two years and has undertaken similar green mobility initiatives in Leh, Greater Noida, and Kandla in Gujarat.

In addition to the Odisha project, NTPC is developing a green hydrogen hub in Visakhapatnam, further solidifying its position as a leader in renewable energy. The company is targeting an ambitious renewable energy capacity of 60 GW by 2032.

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