New Delhi: NGEL, a wholly owned subsidiary of NTPC Limited, has signed a Joint Venture Agreement with IOCL for setting up of renewable energy projects to meet Round the Clock power requirements of IOCL Refineries.
The JV Agreement was signed by Kausik Basu, ED (M&I), IOCL and V. V. Sivakumar, GM, NGEL in the presence of Gurdeep Singh, CMD, NTPC Limited and Shrikant Madhav Vaidya, Chairman, IOCL.
NTPC Limited, through its wholly owned subsidiary, NGEL, has set an ambitious target of building a renewable generation portfolio of 60 GW over the next decade to aggressively pursue its green energy business.
The signing of this Joint Venture Agreement between the two Maharatna behemoths will enable NTPC Limited and Indian Oil to meet the Government of India’s Clean Energy Targets in their respective core businesses.
