ONGC, NTPC Green Energy In Tie-Up For Offshore Wind

ONGC, NTPC Green Energy Collaborate To Develop Wind Energy Projects

Oil and Natural Gas Corporation (ONGC) and National Thermal Power Corporation Green Energy Limited (NGEL) have signed a Joint Venture Agreement (JVA) to focus on offshore wind energy projects. The development was widely expected considering the push into offshore wind, and ONGC’s own experience with the domain relatively among energy majors.

The agreement was signed at India Energy Week in Goa in the presence of 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.

ONGC had entered into a Memorandum of Understanding (MoU) with NGEL in September last year, emphasising 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.

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Earlier this year, NTPC Green Energy Limited (NGEL) recently announced the development of green hydrogen project and its derivatives (Green Ammonia, Green Methanol) with the Maharashtra government. The project is expected to generate up to 1-million-ton capacity per annum. Some other projects that have been planned to develop include Pump Hydro Projects (PHP) of 2 GW and the development of renewable energy (RE) projects with or without storage of up to 5 GW in the state.

The NTPC announced the Memorandum of Understanding (MoU) signing between the Maharashtra government and NGEL. It stated, “The projects include the development of Green Hydrogen project and its derivatives (Green Ammonia, Green Methanol). It is expected to be of up to 1-million-ton capacity per annum. It included Pump Hydro Projects of 2 GW and development of renewable energy (RE) projects with or without storage up to 5 GW in the state.”

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