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ONGC and NTPC Inexperienced Power Restricted (NGEL) signed a Joint Enterprise Settlement (JVA) to develop renewable vitality initiatives specializing in offshore wind. This was signed on 7 February 2024 throughout India Power Week held at Goa. The JVA was signed within the presence of Hon’ble Minister of Petroleum and Pure Gasoline and Minister of Housing and City Affairs Hardeep Singh Puri.
The Joint Enterprise settlement was signed between NGEL CEO Mohit Bhargava, and ONGC Govt Director Satish Kumar Dwivedi. The signing came about within the presence of ONGC Chairman and CEO Arun Kumar Singh, and NTPC Restricted Chairman and Managing Director Gurdeep Singh within the presence of Minister Puri
The JVA marks a pivotal collaboration aimed toward spearheading Renewable Power Tasks each inside India and on the worldwide stage. Particularly, the settlement encompasses ventures in offshore wind initiatives whereas additionally delving into potential alternatives in Storage, E-mobility, Carbon Credit, Inexperienced Credit, Inexperienced Hydrogen enterprise, and its derivatives akin to Inexperienced Ammonia and Inexperienced Methanol.
ONGC had earlier inked a Memorandum of Understanding (MoU) with NGEL on 27 September 2023 to advance its renewable vitality objectives in alignment with the vitality transition. The first focus of the MoU was to evaluate feasibility and set up renewable vitality initiatives throughout varied sectors.
This strategic partnership between NGEL and ONGC signifies a concerted effort in the direction of advancing sustainable vitality initiatives, aligning intently with the nation’s bold objectives for a greener future. By synergizing experience and sources, each entities are poised to contribute considerably to India’s renewable vitality panorama, driving innovation and fostering environmental stewardship
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