KPI Green Energy has secured contracts worth ₹128 crore from India’s state-owned power major NTPC to develop a green hydrogen project at NTPC’s facility in Greater Noida, Uttar Pradesh.
In a regulatory filing, KPI Green Energy confirmed that NTPC issued three separate work orders with a combined value of ₹128.49 crore, excluding GST. The project involves the design, construction and commissioning of a green hydrogen plant with a production capacity of one tonne per day, along with two years of operation and maintenance support.
The scope of work includes engineering, manufacturing and supply of plant equipment, mandatory spare parts, transportation, installation, testing, pre-commissioning and commissioning. The contract also covers civil construction, structural steel works, and the implementation of safety systems required for the facility’s operation.
The hydrogen plant will deploy plasma gasification technology, enabling the conversion of municipal solid waste, refuse-derived fuel and agricultural waste into synthesis gas. This gas is then processed further to produce green hydrogen, supporting NTPC’s clean energy and decarbonisation objectives.
Following the order announcement, shares of KPI Green Energy closed at ₹429, up nearly 2% from the previous trading session. The stock has gained about 1% over the past five trading days.
Meanwhile, NTPC shares ended marginally lower at ₹322.4, although the stock has still recorded a more than 1% gain over the last five sessions, reflecting continued investor confidence in the company’s energy transition strategy.