ONGC, NTPC Green Energy Limited sign Joint Venture Agreement to focus on offshore wind energy projects

ONGC and NTPC Green Energy Limited (NGEL) have signed a Joint Venture Agreement (JVA) to focus on offshore wind energy projects. The agreement signed at India Energy Week in Goa on Wednesday, was witnessed by Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs Hardeep Singh Puri. This collaboration aims to lead renewable energy initiatives, both domestically and internationally.

Besides offshore wind projects, the agreement extends to ventures in storage, e-mobility, carbon credits, and green hydrogen business, including derivatives like Green Ammonia and Green Methanol.

Earlier, ONGC had entered into a Memorandum of Understanding (MoU) with NGEL on September last year, emphasizing the advancement of renewable energy objectives across sectors. The focus of the MoU was feasibility assessments and the establishment of renewable energy projects.

By pooling expertise and resources, ONGC and NGEL said, they aim to make substantial contributions to India’s renewable energy landscape, fostering innovation and environmental responsibility.