State-run NTPC subsidiary NTPC Green Energy Limited (NGEL) and Hindustan Petroleum Limited (HPCL) will jointly develop renewable energy projects as part of a new MoU signed between the two companies on Wednesday.

The projects will supply 400 MW of energy around the clock to meet the needs of Hindustan Petroleum Corporation.

The MoU marks the first step in the collaboration between NGEL and HPCL on renewable energy projects, which will help HPCL fulfil its commitment to clean energy.

State-owned refinery HPCL is reportedly working on a plan to achieve net-zero carbon emissions by 2040. India, the world’s third-largest emitter of greenhouse gases, aims to achieve net-zero emissions by 2070.

Besides HPCL, NTPC Renewables has signed MoUs and joint ventures with ONGC and IOC to develop green energy assets in the past. Last July, NTPC Renewable signed an MoU with the IOC to provide the IOC with a 24/7 supply of electricity from renewable sources. Likewise, NTPC and ONGC signed an MoU to accelerate their renewable energy footprint and boost offshore wind development in India.

To reduce carbon emissions, NTPC also commissioned India’s first green hydrogen hybrid project on Wednesday. Green hydrogen blending started with the Pipeline Natural Gas (PNG) network at NTPC Kawas Township in Surat. The project is a joint effort between NTPC and Gujarat Gas Limited (GGL).

NTPC’s aggressive green energy initiatives have seen the company add 1,075 megawatts (MW) capacity in fiscal 2023, breaking the 1 gigawatt (GW) annual production capacity mark in the renewable energy sector.