NTPC, ONGC to set up joint venture company for Renewable Energy business
#GS3 #Economy #RenewableEnergy
NTPC Ltd. , the PSU under Ministry of Power and Oil and Natural Gas Corporation Limited (ONGC), the PSU under Ministry of Petroleum &Natural Gas, have signed a MoU to set up a Joint Venture Company for Renewable Energy business.
- As per the MoU, NTPC and ONGC will explore the setting up of offshore wind and other Renewable Energy Projects in India and overseas. They shall also explore opportunities in the fields of sustainability, storage, E-mobility and ESG (Environmental, Social and Governance) compliant projects.
- The MoU will enable both companies to accelerate their footprint in Renewable Energy.