NTPC, Oil India sign agreement to explore collaborations in renewable energy sector

4 Sep 2023 , 11:10 AM

The state-owned NTPC and Oil India have agreed to explore collaborations in the fields of renewable energy, green hydrogen production, and its derivatives.

According to NTPC, the alliance will also pursue geothermal and other decarbonization projects.

On Thursday, NTPC CMD Gurdeep Singh and Oil India CMD Ranjit Rath signed a memorandum of understanding (MoU). 

The Memorandum of Understanding is for the purpose of exploring collaboration in the areas of renewable energy, green hydrogen and its derivatives, geothermal, and other decarbonization initiatives. It would also promote information and experience sharing on emerging decarbonization technologies such as carbon sequestration, according to the company’s statement.

NTPC’s goal is to install 60 GW of renewable energy capacity by 2032 and to become a key leader in green hydrogen technologies and energy storage.

NTPC is India’s largest energy company, with roots set in 1975 to expedite India’s power growth. Since then, it has established itself as the leading power major, with a presence across the whole power generation value chain.

For feedback and suggestions, write to us at [e-mail]