NTPC and ONGC Join Forces for Renewable Energy Revolution
Key Ideas
- NTPC and ONGC have established a Joint Venture Company through their green energy subsidiaries to focus on renewable and new energy opportunities.
- The collaboration aims to explore a range of sectors including solar, wind, energy storage, green hydrogen, and e-mobility.
- The partnership is aligned with India's goals for a sustainable energy future and signifies a significant step towards environmental stewardship.
- The Joint Venture Company will actively participate in acquiring renewable energy assets and offshore wind tenders in Tamil Nadu and Gujrat.
The Ministry of Power announced a strategic collaboration between Maharatna PSUs NTPC and ONGC to establish a Joint Venture Company (JVC) through their respective Green Energy Subsidiaries. This partnership, formed during India Energy Week 2024, marks a significant step towards advancing renewable and new energy initiatives. The JVC, with a 50:50 ownership structure, will focus on various opportunities in Renewable Energy (RE) and New Energy sector, including solar, wind (onshore/offshore), energy storage, green hydrogen, green ammonia, sustainable aviation fuel, and green methanol, among others. Additionally, the JVC plans to participate in offshore wind tenders in Tamil Nadu and Gujrat, showcasing a commitment to expanding their renewable energy portfolio. The collaboration between NGEL and OGL is aimed at driving innovation in the energy sector and accelerating India's transition towards a greener future. With their combined domain expertise and resources, the entities are well-positioned to make significant contributions to India's renewable energy landscape, emphasizing sustainability and environmental stewardship.