ONGC and NGEL Sign JV to Develop RE Projects Focusing on Offshore Wind
ONGC and NTPC Green Energy Limited (NGEL) signed a Joint Venture Agreement (JVA) to develop renewable energy projects focusing on offshore wind. This was signed during India Energy Week 2024 held at Goa.
February 08, 2024. By News Bureau
The JVA marks a pivotal collaboration aimed at spearheading Renewable Energy Projects both within India and on the international stage. Specifically, the agreement encompasses ventures in offshore wind projects while also delving into potential opportunities in Storage, E-mobility, Carbon Credits, Green Credits, Green Hydrogen business, and its derivatives such as Green Ammonia and Green Methanol.
ONGC had earlier inked a Memorandum of Understanding (MoU) with NGEL on 27 September 2023 to advance its renewable energy goals in alignment with the energy transition. The primary focus of the MoU was to assess feasibility and establish renewable energy projects across various sectors.
This strategic partnership between NGEL and ONGC signifies a concerted effort towards advancing sustainable energy initiatives, aligning closely with the nation's ambitious goals for a greener future. By synergizing expertise and resources, both entities are poised to contribute significantly to India's renewable energy landscape, driving innovation and fostering environmental stewardship.
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