In a significant move toward sustainable energy solutions, the Oil and Natural Gas Corporation (ONGC), a prominent state-owned entity, has entered into a strategic collaboration with NTPC Green Energy Ltd (NGEL). This partnership aims to pave the way for groundbreaking projects in green hydrogen and offshore wind energy.
The Memorandum of Understanding (MoU), recently signed by ONGC’s Executive Director, Debdulal Adhikari, and NGEL’s CEO, Mohit Bhargava, signifies a joint commitment to explore and establish renewable energy initiatives across various domains. ONGC expressed its enthusiasm about the partnership, stating, “The MoU will primarily focus on assessing the viability and implementation of renewable energy projects.”
This momentous occasion was graced by the presence of ONGC’s Chairman and CEO, Arun Kumar Singh, and NTPC’s Chairman and Managing Director, Gurdeep Singh, underscoring the significance of this collaboration.
The MoU outlines a comprehensive roadmap for collaboration between these two industry giants. It encompasses the pursuit of renewable power projects, both within India and on an international scale, with a particular emphasis on offshore wind projects. Additionally, the agreement extends its reach into various sustainable avenues, including energy storage solutions, electric mobility, carbon credits, green credits, nuclear energy, and the burgeoning green hydrogen sector, including its derivatives like green ammonia and green methanol.
ONGC, known as India’s foremost producer of crude oil and natural gas, is joining forces with NGEL, a subsidiary of India’s largest power utility, NTPC. This alliance represents a significant step toward achieving renewable energy goals and fostering innovation within the energy sector.
Marking the momentous occasion, ONGC officially inked the groundbreaking MoU with NTPC Green Energy Limited on September 27, 2023. Over the course of three years, the collaboration will primarily focus on evaluating the feasibility and implementation of offshore wind projects, green hydrogen initiatives, as well as pumped and energy storage projects.
The Oil and Natural Gas Corporation Limited (ONGC) is a prominent central public sector organization in India, operating under the purview of the Ministry of Petroleum and Natural Gas, Government of India. The company’s headquarters are located in New Delhi. ONGC was established on August 14, 1956, by the Government of India.
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