NTPC and ONGC establish JV for renewable energy projects

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, and ONGC Green Energy Limited (OGL), a subsidiary of Oil and Natural Gas Corporation (ONGC), have formed a 50:50 joint venture named ONGC NTPC Green Private Limited (ONGPL). 

The Ministry of Power approved the formation of this joint venture, which has an authorised capital of Rs 1 million.

ONGPL will focus on renewable energy projects, including greenfield developments and acquisitions of existing assets, with a particular emphasis on offshore wind projects. The company will also explore opportunities in energy storage, e-mobility, and environmental, social, and governance (ESG) initiatives. 

Additionally, ONGPL plans to engage in carbon and green credits to support India’s transition to a low-carbon economy. The joint venture’s activities will extend both within India and internationally, aiming to acquire renewable energy assets.