NTPC and ONGC partner to drive renewable energy expansion in India
Author: PPD Team Date: 05/11/2024
NTPC and ONGC are establishing a joint venture to expand into the renewable energy sector through their subsidiaries, NTPC Green Energy and ONGC Green Energy.
A 50:50 joint venture company (JVC) application has been submitted to the Ministry of Corporate Affairs, advancing both companies’ commitment to renewable energy.
This JVC will focus on various renewable segments, including solar, wind, energy storage, and green credits, and plans to acquire renewable energy assets.
It is also eyeing participation in upcoming renewable energy tenders in Tamil Nadu and Gujarat. With combined expertise and resources, NTPC and ONGC aim to strengthen India’s renewable energy landscape and foster innovation in the sector.