NTPC, a leading power utility, and oil major ONGC have announced a collaboration to explore new and renewable energy opportunities. Through their respective green energy subsidiaries—NTPC Green Energy Ltd (NGEL) and ONGC Green Energy Ltd (OGL)—the companies will establish a joint venture to advance India’s renewable energy landscape.
In a recent statement, NTPC highlighted that the joint venture company (JVC) will draw on both entities’ expertise and resources to drive innovation and environmental sustainability in the energy sector. NGEL has already submitted an application to the Ministry of Corporate Affairs to formalize this 50:50 partnership with OGL.
The joint venture aims to focus on diverse areas within renewable and new energy, including solar and wind power, energy storage solutions, e-mobility, carbon credits, and green credits. Additionally, the JVC will explore acquiring renewable energy assets and plans to participate in offshore wind tenders in Tamil Nadu and Gujarat. This partnership marks a significant step toward accelerating India’s transition to sustainable energy sources.
