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NTPC Green Energy Forms Joint Venture with Indian Oil for Renewable Power Projects

The aim is to produce a minimum capacity of 650 MW of round-the-clock renewable power to meet the energy needs of Indian Oil Corporation Limited.

June 07, 2023. By Nivedita Ojha

NTPC Green Energy Limited has established a 50:50 joint venture company called ‘INDIANOIL NTPC GREEN ENERGY PRIVATE LIMITED’ in collaboration with Indian Oil Corporation Limited.

The primary objective of INDIANOIL NTPC GREEN ENERGY PRIVATE LIMITED is to focus on the building of renewable power projects, such as solar PV, wind, energy storage, or any combination thereof.

The aim is to produce a minimum capacity of 650 MW of round-the-clock renewable power to meet the energy needs of Indian Oil Corporation Limited.

This commercial disclosure delineates NTPC Green Energy Limited’s pledge to renewable and environment-friendly power generation.

By associating with Indian Oil Corporation Limited, a major player in the energy sector, both companies intend to tap the potential of renewable energy sources and contribute significantly to India’s green energy transition.

The establishment of this joint venture is in line with the broader goal of reducing reliance on conventional fossil fuels and boosting the adoption of clean and renewable energy in the country.

This disclosure caters as a significant update considering the collaborative efforts of NTPC Green Energy Limited and Indian Oil Corporation Limited in steering the growth and expansion of renewable energy infrastructure in India.
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