GACL and NTPC Renewable Energy Ltd. (NTPC-REL) signed MoU to collaborate in the field of renewable energy and green chemicals

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VADODARA, India, July 7, 2022 /PRNewswire/ — Gujarat Alkalies and Chemicals Limited (GACL) and NTPC Renewable Energy Limited (NTPC-REL), a wholly owned subsidiary of NTPC Limited have signed a Memorandum of Understanding (MoU) on 6th July 2022 at New Delhi to explore the business opportunities of mutual interest in the areas of sourcing of renewable power having optimum mix of solar, wind and other clean energy including energy storage solutions to the extent of about 100 MW, as required for the operations and manufacturing of GACL at Vadodara Complex and/or Dahej Complex or any of its other Complexes and to jointly work on synthesizing Green Chemicals such as Methanol and Ammonia for captive use by GACL using Hydrogen and CO2 available at GACL. The MoU was signed by Shri Harshad R Patel, IAS, Managing Director, GACL and Shri Mohit Bhargava, Chief Executive Officer, NTPC-REL.

This is a first-of-its-kind novel initiative between leading CPSE and State Government Promoted Company to support the country’s commitment to achieve renewable energy targets and reduce greenhouse emissions.

About GACL:

Gujarat Alkalies and Chemicals Limited (GACL) was established in the year 1973 in Vadodara, Gujarat to manufacture Caustic Soda and allied products. Promoted by the Government of Gujarat, by harping on cutting-edge technology, groundbreaking research and development, and through strategic diversification, GACL has emerged as one of the largest manufacturers of caustic soda with around 12% share in domestic caustic soda market. From an initial capacity of 37,425 TPA caustic soda, the organization has enhanced its capacity to 4,30,000 TPA and the facilities are spread over 2 complexes at Vadodara and Dahej. From its two facilities, GACL now offers 36 products. GACL is also the first state promoted enterprise to adopt renewable wind energy to fuel its progress. The Organisation has a current total installed Wind Power capacity of 171.45 MW and 35 MW Solar Power Project for its captive use, which cater more than 25% of its energy requirements. For more information about GACL visit: www.gacl.com  

About NTPC-REL:

NTPC-REL is a wholly owned subsidiary of NTPC Limited and has been incorporated to develop Renewable Energy Projects and Parks including development of various Green Hydrogen Energy Solutions, Battery Energy Storage Solutions in a focused manner.

Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.

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