NTPC, OIL ink MoU for RE & Green initiatives

  • Industry News
  • Sep 05,23
The two Maharatna giants, through this MoU, intend to enhance their footprint in Renewable Energy domain and foray into sustainable solutions to advance the efforts towards achieving the nation’s Net-Zero targets.
NTPC, OIL ink MoU for RE & Green initiatives

NTPC, India’s largest power utility having presence across value chain of Power Sector with a total installed capacity of 73,024 MW, and Oil India Limited, a state-owned oil company engaged in the business of exploration, development and production of crude oil and natural gas, have signed a Memorandum of Understanding to explore collaboration in the areas of Renewable Energy, Green Hydrogen and its derivatives, Geothermal and other decarbonisation initiatives. Further, the MoU shall facilitate knowledge and experience sharing on the upcoming Decarbonisation technologies like Carbon Sequestration.

The two Maharatna giants, through this MoU, intend to enhance their footprint in Renewable Energy domain and foray into sustainable solutions to advance the efforts towards achieving the nation’s Net-Zero targets.

The MoU was signed in the presence of Gurdeep Singh, CMD, NTPC and Dr Ranjit Rath, CMD, OIL and their Functional Directors.

NTPC is committed to achieve 60 GW of Renewable Energy capacity by 2032 and be a major player in Green Hydrogen Technology and Energy Storage domain. The company is taking up several initiatives towards decarbonisation such as Hydrogen blending, Carbon Capture & Fuel cell buses among others.

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