NTPC, Oil India Sign MoU for Boosting Renewable & Green Initiatives

Indian power behemoth NTPC Limited and state-owned Oil India Limited have now signed a Memorandum of Understanding (MoU) for collaboration in the business of exploration, development and production of crude oil and natural gas.

The agreement was recently signed between the government enteprises to explore collaboration in Renewable Energy, Green Hydrogen and its derivatives, geothermal energy and other decarbonization initiatives. 

NTPC Limited has an installed capacity of 73,024 MW and now foraying into newer forms of energy generation. The MoU will likely facilitate knowledge and experience sharing on the upcoming decarbonisation technologies like Carbon Sequestration.

The two Maharatna giants, through this MoU, intend to enhance their footprint in the Renewable Energy domain and foray into sustainable solutions to advance the efforts towards achieving the nation’s Net-Zero targets.

The MoU was signed in the presence of Gurdeep Singh, CMD, NTPC and Dr Ranjit Rath, CMD, OIL and their Functional Directors.

NTPC has committed to achieving 60 GW of Renewable Energy capacity by 2032 and becoming a major player in the Green Hydrogen Technology and Energy Storage domain. 

The company is taking up several initiatives toward decarbonization, such as Hydrogen blending, Carbon Capture, and fuel cell buses, among others. In the last few months, it also tenders seeking information partners to explore the opportunities in offshore wind power generation. 

It has already tied up with several organisations to explore ways to produce Green Hydrogen, bio-CNG and other new forms of clean energy. It also has developed one of the largest floating solar plants at Ramgundam in Telangana.