ONGC's Billion-Dollar Bet on Green Energy: Fuelling India's Net-Zero Aspirations
Key Ideas
  • ONGC's 2 lakh crore investment in renewable energy and green hydrogen projects aligns with India's target of achieving Net Zero emissions by 2070, showcasing a commitment to sustainable energy transition.
  • Key measures like offsetting 9 million tonnes of carbon emissions, reducing gas flaring to zero by 2030, and integrating offshore wind energy demonstrate ONGC's efforts towards environmental sustainability.
  • The investment not only contributes to lowering carbon emissions but also aligns with the national hydrogen mission to make India a global hub for green hydrogen production, fostering economic growth and employment opportunities.
  • ONGC's strategic move to invest in renewable energy and green hydrogen projects not only supports the government's climate initiatives but also positions India as a leader in the global clean energy transition, showcasing a strong commitment to a low-carbon future.
ONGC's recent massive investment of 2 lakh crore in renewable energy and green hydrogen projects in India is a significant step towards aligning with the country's broader climate objectives. The commitment to add 5 GW of renewable energy capacity by 2030 and an additional 1 GW by 2038 directly supports India's target of 450 GW of renewable energy capacity by 2030. In addition, the investment in green hydrogen and ammonia projects complements the National Hydrogen Mission, aiming to make India a global hub for green hydrogen production. ONGC's focus on reducing carbon emissions through various clean energy projects, such as offsetting 9 million tonnes and eliminating gas flaring by 2030, showcases a strong commitment to environmental sustainability. The integration of offshore wind energy and the creation of economic and employment opportunities in the renewable energy sector further highlight the positive impact of ONGC's investment. By supporting India's net-zero aspirations and aligning with global climate initiatives, ONGC's strategic vision in renewable energy and green hydrogen sets a strong example for sustainable development and decarbonisation in India.
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