New Delhi: India’s leading power utility company, NTPC, and the nation’s second-largest oil and gas company, Oil India Limited, have entered into a partnership to advance renewable energy initiatives.
Under a Memorandum of Understanding (MoU), the two Maharatna giants will explore collaborative opportunities in renewable energy, green hydrogen and its derivatives, as well as decarbonisation projects, including geothermal energy utilisation, the central government announced through an official release on Friday. This collaboration aligns with the government’s vision for sustainable energy development.
NTPC, with a substantial installed capacity of 73,024 MW, is present across the entire power sector value chain. Meanwhile, Oil India Limited, a state-owned enterprise, specialises in crude oil and natural gas exploration, development, and production business.
NTPC is ambitiously working toward achieving a renewable energy capacity of 60 GW by 2032. Both NTPC and Oil India Limited are positioning themselves as key players in green hydrogen technology and energy storage solutions, contributing to India’s mission of achieving net-zero emissions by 2070.
This partnership signifies a pivotal step in India’s transition to a greener and more sustainable energy landscape, with these industry leaders driving innovation and progress in renewable energy and related sectors.
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