ONGC in Joint Venture Agreement with NTPC Green for Renewable Energy
![ONGC in Joint Venture Agreement with NTPC Green for Renewable Energy](https://www.psuconnect.in/sdsdsd/ONGC_in_Joint_Venture_Agreement_with_NTPC_Green_for_Renewable_Energy.jpg)
Goa: 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 on 7 February 2024 during India Energy Week held at Goa. The JVA was signed in the presence of Hon’ble Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs Hardeep Singh Puri.
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.
Read Also : R.K. Chaudhary, CMD, NHPC met Chowna Mein, Hon’ble Dy. CM, Arunachal PradeshONGC 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.
Read Also : State Coal Minister inaugurates new solar plant at CCL’s Piparwar AreaThis 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.
Read Also : WAPCOS CMD met Safarzoda Manuchehr Bakhodur Hon’ble Deputy Minister of Energy and Water ResourcesNews Must Read
- Petroleum Minister Hardeep S Puri Highlights India’s Bioenergy Progress
- NBCC bags orders worth Rs. 182.50 Crore
- OMCs increases price of 19 kg commercial LPG cylinder by Rs 39
- HUDCO Issues Record Date For Dividend, Shares Rise 118% YTD
- NTPC Bongaigaon to Support TB Eradication Efforts; Partners with District Administration, Kokrajhar
- Solar Energy Corporation of India Ltd (SECI) attains Navratna Status
- Dr D K Sunil Takes Over as CMD (Additional Charge) of HAL
- DVC bags Champions Trophy for Corporate Sustainability at XLRI, Jamshedpur
- Minister Pralhad Joshi Visits IREDA Office, Reviews Company’s Strategic Growth Plan
- HAL Selects SAFHAL Helicopter Engines to Develop and Produce ‘Aravalli’ Engines