Indian oil giants to set up joint venture to expand renewable energy footprint

The companies have entered into an MoU to explore opportunities in offshore wind energy generation, energy storage and e-mobility

Festival Net Zero 2021

Indian oil companies Oil and Natural Gas Corporation Limited (ONGC) and NTPC are exploring setting up a Joint Venture to develop renewable energy assets in India and overseas.

The two companies have signed a Memorandum of Understanding (MoU) to explore opportunities in the fields of sustainability, energy storage and e-mobility.

Through this collaboration, the energy companies seek to expand offshore capacity and achieve individual renewable energy targets within the next decade.

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