NTPC Collaborates with Indian Oil to Expand Footprint in Renewable Energy

State-run energy majors NTPC Ltd and Indian Oil have signed a memorandum of understanding (MoU) for collaboration in the field of renewable energy and mutually exploring opportunities for the supply of low carbon/RE RTC captive power. 
 
This is a first-of-its-kind novel initiative by two leading national energy majors of India, to support the country’s commitment to achieve renewable energy targets and reduce greenhouse gas emissions.
 
Commenting on the development, Gurdeep Singh, CMD of NTPC, said that, “NTPC is taking various steps to make its energy portfolio greener by adding significant capacity of renewable energy sources so that our non-fossil fuel-based capacity will become equal or greater than our thermal portfolio by 2032. Through this MoU, the strengths of both the organizations can be leveraged to achieve the aim of the country to meet its net-zero commitments.”
 
“As a global energy major, environmental priority is being weaved into every business aspect of Indian Oil and now, we intend to use green energy to power new projects and refinery expansions,” said Shrikant Madhav Vaidya, Chairman, Indian Oil.
 
The two organisations have come together for the generation and storage of renewable energy and other forms of energy, including gas-based power, primarily to cater to Indian Oil refineries and other installations.
 
The MoU was signed between Sangeeta Kaushik, Chief General Manager (BD) NTPC, and V K Raizada, Executive Director (M&I), Indian Oil, in the presence of Gurdeep Singh, CMD-NTPC, Shrikant Madhav Vaidya, Chairman, Indian Oil, C K Mondol, Director (Commercial), NTPC, SSV Ramkumar Director R&D and P&BD, Indian Oil.

Currently, NTPC’s installed capacity stood at 67,657.5 MW (including 13,425 MW through JVs/Subsidiaries) comprising 47 NTPC stations (23 coal-based stations, 7 gas-based stations, 1 hydro station, 1 small hydro, 14 solar PV, and 1 wind-based station) and 26 joint venture stations i.e. 9 coal-based, 4 gas-based, 8 hydro, 1 small hydro 2 wind and 2 solar PV.