Public Sector Undertakings (PSU) NTPC Limited and ONGC Limited have joined forces to establish a 50:50 Joint Venture Company (JVC) through their respective green energy subsidiaries, NTPC Green Energy Limited and ONGC Green Energy Limited. The newly formed JVC aims to further their interests in renewable and new energy sectors. Both PSUs have obtained necessary approvals for the formation of this JVC, which will delve into various opportunities including Solar, Wind, Energy Storage, Green Hydrogen, E-mobility, Carbon Credits, and more. The JVC also plans to pursue the acquisition of renewable energy assets and participate in offshore wind tenders in Tamil Nadu and Gujarat. Following this announcement, NTPC's shares saw a significant increase of over 4% as its green energy arm initiated the filing of draft papers to raise ₹10,000 crore through an IPO. This collaboration signifies a strategic move by the two major PSUs to expand their footprint in the green energy space and contribute towards a sustainable future.