By OUR STAFF REPORTER
Goa, 7 Feb: ONGC and NTPC Green Energy Limited (NGEL) signed a Joint Venture Agreement (JVA) to develop renewable energy projects focusing on offshore wind. This was signed today during India Energy Week held at Goa. The JVA was signed in the presence of Union Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs Hardeep Singh Puri.
The JVA marks a pivotal collaboration aimed at spearheading Renewable Energy Projects both within India and on the international stage. Specifically, the agreement encompasses ventures in offshore wind projects while also delving into potential opportunities in Storage, E-mobility, Carbon Credits, Green Credits, Green Hydrogen business, and its derivatives such as Green Ammonia and Green Methanol.
ONGC had earlier inked a Memorandum of Understanding (MoU) with NGEL on 27 September, 2023, to advance its renewable energy goals in alignment with the energy transition. The primary focus of the MoU was to assess feasibility and establish renewable energy projects across various sectors.
