NTPC rises on signing MoU with Siemens for demonstrating Hydrogen co-firing in Faridabad Gas Power Plant
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NTPC is currently trading at Rs. 166.10, up by 1.20 points or 0.73% from its previous closing of Rs. 164.90 on the BSE.
The scrip opened at Rs. 164.95 and has touched a high and low of Rs. 166.85 and Rs. 164.25 respectively. So far 14122 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 176.15 on 15-Sep-2022 and a 52 week low of Rs. 118.00 on 27-Dec-2021.
Last one week high and low of the scrip stood at Rs. 166.85 and Rs. 160.35 respectively. The current market cap of the company is Rs. 159898.02 crore.
The promoters holding in the company stood at 51.10%, while Institutions and Non-Institutions held 45.49% and 3.40% respectively.
NTPC and Siemens have signed a Memorandum of Understanding (MoU) to demonstrate the feasibility for hydrogen co-firing blended with natural gas in Siemens V94.2 gas turbines installed at NTPC Faridabad gas power plant. The total installed capacity of Faridabad gas power plant is 432 megawatt (MW) with two V94.2 gas turbines operating in combined cycle mode.
Achieving de-carbonizing targets requires a concerted and wide-ranging roadmap across all energy intensive sectors. As a part of this road map, hydrogen co-firing in gas turbines can play a key role in reducing the CO2 emissions. NTPC, being the largest power generator in India, intends to play a major role in energy transition and achieving the COP26 commitments. As a part of this initiative, NTPC is exploring various new hydrogen generation technologies along with hydrogen usage so as to ensure future readiness, develop the required capabilities, technical expertise, align with the national decarbonizing and hydrogen mission targets.
Under this MoU, both the companies will collaborate to study the feasibility of introducing hydrogen co-firing in Faridabad gas power plant. Based on the feasibility studies, a pilot project for 5% (by volume) hydrogen co-firing may be implemented for demonstrating the capability and the hydrogen required for the project shall be arranged by NTPC.
NTPC is the largest power utility company in India and has presence in Coal, Gas, Solar PV, Hydro and Wind Power Generation and Coal Mining.
