- ONGC aims to achieve 10 GW of renewable energy capacity by 2030
- The partnership has support from the Indian government to cater renewable energy sector
NTPC Green Energy Limited (NGEL), a subsidiary of National Thermal Power Corporation (NTPC) has signed a Memorandum of Understanding (MoU) with the Oil and Natural Gas Corporation (ONGC). Under this partnership, both companies will announce various initiatives for the renewable energy sector in India and abroad.
Some major focus areas will be the development of offshore wind energy projects, exploration of opportunities in energy storage, electric mobility solutions, carbon credits, green credits, and green hydrogen production.
With the support of the Government, this partnership aims to bolster India’s renewable energy sector.
This collaboration between NGEL and ONGC showcases a huge step towards supporting India’s transition to cleaner and more sustainable energy sources. It highlights the growing commitment towards renewable energy and the advancement of offshore wind power projects in the country.
NGEL is actively engaged in offshore wind ventures, green hydrogen manufacturing, advancements in energy storage, participation in carbon markets, and the continual generation of renewable energy. NTPC, on the other hand, is striving to attain a substantial 60 GW renewable energy capacity by 2032.
Meanwhile, ONGC, renowned for its proficiency in petroleum and natural gas exploration and production, is expanding its reach into the renewable energy sphere. Currently boasting an operational capacity of around 189 MW hailing from wind and solar PV facilities, ONGC has established ambitious goals: achieving 10 GW of renewable energy capacity by 2030 and attaining net-zero emissions by 2038.
