State-owned power producer NTPC and oil & gas company ONGC have collaborated to form a renewable and new energy joint venture company (JVC) through their green energy subsidiaries NTPC Green Energy Ltd and ONGC Green Energy Ltd.
This JV company will venture into various renewable energy and new energy opportunities including solar, wind (onshore/offshore), energy storage (pump/battery), green molecule (green hydrogen, green ammonia, sustainable aviation fuel, green methanol), e-mobility, carbon credits, green credits, etc.
The JV company will also seek opportunities to acquire renewable energy assets and consider participation in upcoming offshore wind tenders in Tamil Nadu and Gujrat.
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