NTPC Limited and Oil and Natural Gas Corporation (ONGC) have officially announced the launch of a 50:50 Joint Venture Company (JVC) through their green energy subsidiaries, NTPC Green Energy Ltd. (NGEL) and ONGC Green Energy Ltd. (OGL). This collaboration signifies a major step in advancing India's renewable and new energy objectives. The JVC will focus on exploring various renewable energy opportunities such as solar, wind, and energy storage, along with innovations in green molecules like green hydrogen and green ammonia. In addition, the venture will delve into e-mobility, carbon credits, and green credits, demonstrating a comprehensive dedication to sustainable energy development. The partnership is set to participate in offshore wind tenders in Tamil Nadu and Gujarat, and may pursue acquisitions to expand its presence in the renewable energy sector. The initiative aligns well with India's vision for a low-carbon future and is backed by the Ministry of New and Renewable Energy's support, including initiatives like the Production-Linked Incentive scheme. NGEL has initiated an IPO to raise around Rs 10,000 crore for expansion, while OGL plans to enhance its clean energy portfolio by acquiring over 1 GW in renewable projects. This strategic collaboration underscores the leadership roles of NTPC and ONGC in environmental sustainability, leveraging their capabilities to help decrease India's carbon footprint and contribute to national and global sustainability efforts.