NTPC and ONGC Launch Joint Venture to Boost Renewable Energy Goals
| Key Point | Details |
|---|---|
| Joint Venture Partners | NTPC Limited and ONGC through NTPC Green Energy Ltd. (NGEL) and ONGC Green Energy Ltd. (OGL). |
| JVC Structure | 50:50 Joint Venture Company (JVC). |
| Official Signing Date | February 7, 2024, during India Energy Week. |
| Approvals | Received approvals from DIPAM and NITI Aayog. |
| Incorporation Status | Application submitted to the Ministry of Corporate Affairs. |
| Renewable Energy Focus Areas | Solar, wind (onshore/offshore), energy storage, green hydrogen, green ammonia, sustainable aviation fuel, and green methanol. |
| Additional Innovations | E-mobility, carbon credits, and green credits. |
| Strategic Objectives | Reduce carbon footprint, foster environmental stewardship, and contribute to national green energy targets. |
| Upcoming Projects | Participation in offshore wind tenders in Tamil Nadu and Gujarat. |
| NGEL IPO | Raising approximately Rs 10,000 crore. |
| OGL Financials | Authorized capital of Rs 100 crore, subscribed capital of Rs 1 crore. |
| Government Support | Ministry of New and Renewable Energy (MNRE) promoting renewable manufacturing through PLI schemes and incentives. |