Oil and Natural Gas Corp. Ltd (ONGC), India’s largest crude oil and natural gas company, has teamed up with renewable energy major Greenko to tap opportunities in renewables, green hydrogen and its derivatives including green ammonia.
The two companies recently signed a Memorandum of Understanding (MoU) on this collaboration.
Greenko harnesses green hydrogen potential by using low-cost RE power for green hydrogen production.
ONGC had 348 MW of installed renewables capacity as of May 30, 2022, and targets 10 GW by 2040. It is exploring new energy opportunities to reduce its carbon footprint. ONGC Energy Centre Trust, a dedicated center created by ONGC for holistic research in non-conventional energy sources, has already taken up projects on the thermo-chemical reactor for hydrogen and fuel cells.
With the latest announcement, ONGC has joined the list of Indian oil and gas counterparts foraying into green hydrogen and ammonia production. IndianOil (Indian Oil Corporation Limited), for instance, is setting up a green hydrogen plant at its Mathura refinery in the Indian State of Uttar Pradesh. The green hydrogen will replace carbon-emitting fuels used in the refinery to process crude oil into value-added products such as petrol and diesel.
Meanwhile, GAIL has commenced India’s first project to mix hydrogen into the natural gas system. It supplies hydrogen-blended natural gas to Avantika Gas Ltd, a city gas distribution company operating in Indore, Madhya Pradesh.
ONGC’s MoU with Greenko will be valid for two years. “This MoU is in line with the National Hydrogen Mission launched by Prime Minister in making India a global green hydrogen hub. The activities envisaged under this MoU will contribute toward India’s target of producing 5 million tonnes of green hydrogen per annum by 2030. It will also act as a stepping stone for ONGC to achieve renewable energy targets as per its Energy Strategy 2040,” ONGC stated in a media release.
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