NTPC and ONGC Join Forces for Green Energy Revolution

NTPC and ONGC partner to form a Joint Venture Company for renewable energy, focusing on solar, wind, green hydrogen, e-mobility, and more. A major step in India's green energy revolution!

India’s Maharatna Public Sector Undertakings (PSUs), NTPC and ONGC, have solidified their commitment to renewable energy by forming a 50:50 Joint Venture Company (JVC) through their green energy subsidiaries, NTPC Green Energy Ltd. (NGEL) and ONGC Green Energy Ltd. (OGL). This strategic collaboration is set to reshape India’s renewable energy landscape by tapping into diverse green energy opportunities.

Joint Venture to Drive Renewable and New Energy Initiatives

The Joint Venture Agreement, signed during India Energy Week 2024, has received statutory approvals from DIPAM and NITI Aayog. Following this, NGEL has applied to the Ministry of Corporate Affairs for the incorporation of the JVC.

The partnership aims to explore renewable energy opportunities, including solar, onshore and offshore wind, and energy storage solutions such as pumped hydro and battery storage. The JVC will also focus on green molecule production, including green hydrogen, green ammonia, sustainable aviation fuel (SAF), and green methanol.

Additionally, the JVC will dive into emerging areas like e-mobility, carbon credits, and green credits. It will pursue opportunities to acquire renewable energy assets and participate in offshore wind tenders in Tamil Nadu and Gujarat, advancing India’s push towards renewable energy leadership.

Aligned with National Green Energy Goals

This collaboration underscores a concerted effort to meet India’s ambitious targets for a greener future, leveraging the strengths and expertise of two leading PSUs. By pooling resources and expertise, NTPC and ONGC aim to drive innovation in renewable energy technologies and foster sustainable energy practices.

A Milestone in India’s Green Energy Transition

The JVC marks a significant milestone in India’s green energy transition, aligning with the government’s focus on achieving net-zero emissions and promoting environmental sustainability. The collaboration promises a transformative impact on the nation’s energy ecosystem, paving the way for a clean, green future.