NTPC Green share price in focus after THIS MoU to produce sustainable aviation fuel | Stock Market News
Source: Live Mint
NTPC Green Energy Ltd’s shares will be focus as the markets open on Monday, April 28, after the company announced the signing of an MoU with Honeywell UOP India Pvt Ltd.
NTPC Green on Friday said it has signed a Memorandum of Understanding (MoU) with Honeywell to explore the production of sustainable aviation fuel.
The companies will carry out the project by conducting feasibility study that “leverages Honeywell’s proprietary eFining technology and carbon dioxide (CO2) emissions captured from NTPC’s power plants and green hydrogen,” NTPC Green said in a press release, which was made available on stock exchanges.
This MoU aims to collaborate on Sustainable Aviation Fuel (SAF) production, which is a significant component of NTPC Green Energy’s ambitious Green Hydrogen Hub in Pudimadaka, Andhra Pradesh, the company said.
“The collaboration combines Honeywell UOP’s expertise in Sustainable Aviation Fuel (SAF) production with NTPC’s endeavours in developing green hydrogen projects,” it added.
SAF production is a key component of the ambitious Green Hydrogen Hub that NTPC Green is developing.
The hub spans approximately 1,200 acres and is designed to serve as an integrated hub for green chemicals and sustainable manufacturing.
Once fully operational, the hub will harness 7 GW of renewable energy and export over 2.5 million tons of green chemicals annually.
Combining Honeywell UOP’s technical expertise in SAF production with NTPC Green’s commitment to renewable energy and green hydrogen, the collaboration has been touted by NTPC Green as a significant step toward decarbonising the aviation sector.
“It supports NTPC’s goal of achieving a 60 GW renewable energy portfolio by 2032, reinforcing its dedication to sustainable energy development and India’s green energy transition,” the company said.
Projects at the green hydrogen hub are expected to bring approximately ₹1,85,000 Crore investment to the state and provide huge employment opportunities while at the same time contributing substantially in achieving India’s non-fossil energy capacity target of 500 GW by 2030.
Meanwhile, Honeywell UOP’s sustainable aviation fuel claims to exceed “the most rigorous jet fuel standards for performance and can be made from a variety of sustainable feedstocks.”
When blended up to 50 per cent with petroleum-based jet fuel, it can reduce greenhouse gas emissions by 60-80 per cent compared with petroleum-based fuels.
NTPC Green share price today
Shares of NTPC Green Energy Ltd crashed 3.82 per cent at the NSE today, closing at ₹103.19 apiece. The scrip saw an intraday low of ₹102.30 per share during intraday trade on Friday.
NTPC Green stock price fell 3.68 per cent to ₹103.40 per share, while recording an intraday low of ₹102.25 apiece.
