Schedule a Call Back
Maharatna PSUs NTPC and ONGC join hands to form a JV company
Industry News- Nov 04,24
This JVC shall venture into various renewable energy (RE) and new energy opportunities including solar, wind (onshore/offshore), energy storage (pump/battery), green molecule (green hydrogen, green ammonia, sustainable aviation fuel (SAF), green methanol), e-mobility, carbon credits, green credits, etc.
Maharatna PSUs NTPC and ONGC have collaborated to form a joint venture company (JVC) through their green energy Subsidiaries (NTPC Green Energy Ltd. and ONGC Green Energy Ltd.) to further promote their interest in renewable and new energy arena.
Subsequent to the signing of the joint venture agreement on February 7, 2024, during India Energy Week 2024, and obtaining the required statutory approvals from DIPAM and NITI Aayog, NGEL has submitted an application to the Ministry of Corporate Affairs for the incorporation of a 50:50 joint venture company with OGL.
This JVC shall venture into various renewable energy (RE) and new energy opportunities including solar, wind (onshore/offshore), energy storage (pump/battery), green molecule (green hydrogen, green ammonia, sustainable aviation fuel (SAF), green methanol), e-mobility, carbon credits, green credits, etc.
The JVC will also seek opportunities to acquire renewable energy assets and will also consider participation in upcoming offshore wind tenders in Tamil Nadu and Gujrat.
The strategic partnership between NGEL and OGL signifies a concerted effort towards advancing sustainable energy initiatives, aligning closely with the nation's ambitious goals for a greener future. Considering their domain expertise and resources, both entities are poised to contribute significantly to India's renewable energy landscape, driving innovation and fostering environmental stewardship.
Related Stories
Electrical & Electronics
GoodEnough Energy Commissions India’s Largest BESS Gigafactory in Noida
GoodEnough Energy has commissioned India’s largest 7 GWh BESS Gigafactory in Noida, marking a major step towards grid-scale energy storage and the nation’s clean energy goals.
Read morePolicy Regulation
Indian manufacturing sector: Negotiating its way in a less VUCA world
India’s manufacturing sector is evolving through policy support, technology adoption and sectoral growth, though challenges in R&D and skilling remain, writes Prof R Jayaraman, Head, Capstone Proj..
Read moreProcess Equipment
Antifragile Manufacturing: Reimagining Make in India in a Volatile World
As global manufacturing faces sustained volatility, India’s opportunity lies in becoming the most reliable “Plus One” partner through engineering discipline, resilience-focused design, and ope..
Read moreRelated Products
Integrated Electric Gripper S Series
ELECTRICAL & ELECTRONIC EQUIPMENT
IBK Engineers Pvt Ltd offers a wide range of integrated electric gripper S series.
Geared Electric Motors
ELECTRICAL & ELECTRONIC EQUIPMENT
Delco Fans Pvt Ltd offers single phase capacitor run and three
phase geared Instrument motors, totally enclosed face/foot mounted.
“Kusam-Keco” Partial Discharge Acoustic Imager - Model - Km-pdai
ELECTRICAL & ELECTRONIC EQUIPMENT
‘Kusam-Meco’ has introduced a new “Partial Discharge Acoustic Imager Model KM-PDAI.
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
