Strategic Partnership to Drive Renewable Energy Growth in India
Key Ideas
- NTPC and ONGC have formed a Joint Venture Company through their green energy subsidiaries to promote renewable and new energy in India.
- The JVC will focus on various renewable energy opportunities including solar, wind, energy storage, green hydrogen, and E-mobility.
- NGEL and OGL's collaboration aims to align with India's green energy goals, driving innovation and environmental stewardship.
- The partnership signifies a strategic effort to contribute significantly to India's renewable energy landscape and support a greener future.
Maharatna PSUs NTPC and ONGC have joined forces to establish a Joint Venture Company (JVC) via their green energy subsidiaries, NTPC Green Energy Ltd. and ONGC Green Energy Ltd., to strengthen their presence in the renewable and new energy sector. The JVC, after obtaining necessary approvals, plans to engage in various renewable energy ventures such as solar, onshore/offshore wind, energy storage, green hydrogen, E-mobility, and more. This strategic partnership underscores a shared commitment towards promoting sustainable energy initiatives, aligning with India's aspirations for a cleaner future. With their expertise and resources, both organizations are well-positioned to make significant contributions to India's renewable energy market, fostering innovation and environmental responsibility.