NEW DELHI: ONGCNSE -1.43 % and NTPCNSE -1.61 % plan to form a joint venture to pursue opportunities in the renewable energy, battery and electric vehicle space.
The two state-run energy giants entered into a memorandum of understanding (MoU) on Thursday.
“As per the MoU, NTPC and ONGC will explore and set up renewable power assets including offshore wind, in India and overseas, and explore opportunities in the fields of sustainability, storage, E-mobility and ESG (Environmental, Social and Governance) compliant projects,” a statement by ONGC said.
