NTPC and OIL Collaborate to Forge RE and Green Projects

Through this MoU, both companies aimed to augment their footprint in the fields of RE and enter into sustainable solutions to progress the efforts towards attaining India’s Net-Zero Goals.

September 01, 2023. By EI News Network

NTPC has inked a Memorandum of Understanding (MoU) to explore alliances in the domains of Renewable Energy, Green Hydrogen & its by-products, Geothermal and other Decarbonization initiatives.

The MoU will facilitate knowledge and experience contributing to the forthcoming Decarbonisation technologies like Carbon Sequestration.

Through this MoU, aimed to augment their footprint in the fields of RE and enter into sustainable solutions to progress the efforts towards attaining India’s Net-Zero Goals.

The MoU was inked in the presence of Gurdeep Singh, CMD of NTPC and Dr Ranjit Rath, CMD of Oil India Limited (OIL) and their Functional Directors.

NTPC is pledged to attain 60 GW of RE capacity by 2032 and be a major entity in Green Hydrogen Technology and ESS. The company is moving forward to take initiatives in the path of decarbonization comprising Hydrogen blending, Carbon Capture & Fuel cell buses, etc..

The company is India’s largest power utility having a presence throughout the value chain of the Power Sector with an overall established capacity of 73,024 MW.

Oil India Limited is a state-run oil company involved in the business of exploration, development and production of crude oil and natural gas.

NTPC is expanding to make its energy portfolio greener by adding significant capacities of RE sources. By 2032, the company aims to have 60 GW capacity through RE sources making up around 45 percent of its overall power generation capacity.

OIL is taking up the RE projects as a movement towards attaining its vision of being an energy company pledged to India's energy security through both conventional and non-conventional energy solutions.

Tags:

Renewable Energy Projects

Green power projects

Green hydrogen and its derivatives

Geothermal Energy

Carbon sequestration initiatives