NTPC and ONGC Join Hands for RE Expansion
NTPC and ONGC have formed a joint venture through their green energy subsidiaries to explore renewable energy opportunities, including solar, wind, storage, and e-mobility, aiming to expand India’s clean energy landscape.
November 04, 2024. By EI News Network
As per the statement, a joint venture will be formed through their respective green energy subsidiaries, NTPC Green Energy Ltd. (NGEL) and ONGC Green Energy Ltd. (OGL).
The statement elaborated that NGEL has submitted an application to the Ministry of Corporate Affairs for the incorporation of a 50:50 joint venture company with OGL. This joint venture will focus on a range of renewable energy and new energy projects, including solar, wind, energy storage, e-mobility, and both carbon and green credits.
Additionally, the venture will explore acquiring renewable energy assets and potentially participate in forthcoming offshore wind tenders in Tamil Nadu and Gujarat.
"Considering their domain expertise and resources, both entities are poised to contribute significantly to India's renewable energy landscape, driving innovation and fostering environmental stewardship," the statement added.
This collaboration marks a strategic step by both NTPC and ONGC to strengthen their commitment to India’s renewable energy goals and support the country's transition to a cleaner energy future.
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