The total installed capacity of Faridabad gas power plant is 432 megawatt (MW) with two V94.2 gas turbines operating in combined cycle mode.

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.

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, the company said.

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, the firm further added.

Manish Kumar Srivastava, Executive Director, NTPC, said, “NTPC is pioneering various hydrogen related initiatives and is carrying out various R&D works in this field so as to bring in a technology which can provide green, affordable, reliable and sustainable power for all. This MoU is one of the few steps taken by NTPC to meet these targets. Hydrogen co-firing can help in utilizing the existing NTPC gas assets, lowering the cost of electricity from gas plants when green hydrogen is available at a lower cost. Also, these gas turbines can help in providing flexibility to the grid during renewable era and help in stabilizing the grid. We believe that partnering with Siemens Limited that has global expertise in this technology will help us meet our objectives under the National Hydrogen Mission.”

Ashish Sareen, Head of Service & Digital, Energy – Siemens, said, “This MoU demonstrates that India has accelerated its energy transition and decarbonisation journey. We take great pride in collaborating with NTPC as we believe that together we can make existing and future power systems more efficient, flexible and sustainable.”

Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power.

NTPC is India's largest energy conglomerate. It has presence in the entire value chain of the power generation business. As on 30 June 2022, the Government of India holds 51.10% in NTPC.

NTPC's consolidated net profit rose 15.5% to Rs 3,977.77 crore on a 44.5% rise in net sales to Rs 43,177.14 crore in Q1 FY23 over Q1 FY22.

Shares NTPC rose 0.27% to Rs 165.35 while those of Siemens declined 1.29% to Rs 2,734 on the BSE.