NTPC and ONGC Launch Renewable Energy Joint Venture

• NTPC and ONGC unite for a greener future, launching a joint venture in renewable energy to innovate and conquer solar, wind, and more across India!

NTPC Ltd and ONGC plan to establish a joint venture in the renewable energy sector through their green energy subsidiaries, NTPC Green Energy and ONGC Green Energy. Each company will hold a 50% stake in the new entity, which aims to explore ventures and acquisitions related to renewable energy technologies, including solar, wind, and battery storage, as well as participate in upcoming offshore wind tenders in Tamil Nadu and Gujarat.

The joint venture will also focus on expanding into areas such as green hydrogen, ammonia, sustainable aviation fuel, e-mobility, and carbon credits. Both companies have submitted an application to the Ministry of Corporate Affairs to formalize the new business entity.

What innovative renewable energy projects will the NTPC-ONGC joint venture pursue?

The NTPC-ONGC joint venture is poised to make significant strides in the renewable energy landscape. Here are some innovative projects and initiatives that the collaboration may pursue:

• Solar Power Expansion: Development of large-scale solar farms to harness solar energy, potentially utilizing innovative photovoltaic technologies such as bifacial panels and advanced solar tracking systems for improved efficiency.
• Offshore Wind Farms: Participation in the establishment of offshore wind projects in Tamil Nadu and Gujarat, capitalizing on the strong coastal winds to generate clean energy at a large scale.
• Green Hydrogen Production: Exploration of hydrogen production technologies, including electrolyzers powered by renewable energy sources, to produce green hydrogen which can be used for various industrial applications and transport.
• Green Ammonia Initiatives: Assessment of green ammonia as a sustainable energy carrier and fuel source, targeting its use in shipping and potential fertilizers, reducing reliance on fossil fuels.
• Sustainable Aviation Fuel (SAF): Development of next-generation biofuels and synthetic fuels to provide airlines with cleaner fuel alternatives, aligning with global aviation decarbonization goals.
• E-Mobility Solutions: Investments in charging infrastructure and technology for electric vehicles (EVs), promoting the transition to e-mobility solutions across urban and rural areas.
• Battery Storage Projects: Implementation of advanced battery storage systems to enhance grid reliability and facilitate the integration of intermittent renewable energy sources like solar and wind.
• Carbon Credit Trading: Participation in carbon credit markets, allowing the joint venture to monetize emissions reductions and invest in additional sustainability projects.
• Research and Development: Collaboration with universities and research institutions to innovate in renewable technologies, including energy efficiency, energy storage systems, and breakthrough materials for energy production.
• Community Engagement Programs: Initiatives focused on educating local communities about renewable energy resources, job opportunities in the green sector, and the benefits of sustainability practices.
• International Partnerships: Building strategic alliances with global renewable energy developers to access cutting-edge technologies and share knowledge on best practices in the sector.

This joint venture is not only a promising step towards enhancing India’s renewable energy portfolio but also a significant contribution to global sustainability efforts.