NEW DELHI: State-run explorer ONGC and generation utility NTPC on Thursday signed a joint venture MoU for renewable energy business, a move aimed at seeking climate redemption as the country\u2019s biggest producer and consumer of fossil fuels.
\nThe companies, through the joint venture, will set up renewable energy projects, including offshore wind power projects, in India and abroad. They will also explore opportunities in the fields of sustainability, energy storage, e-mobility and ESG (environmental, social and governance)-compliant projects, ONGC said in a statement.
\nThe joint venture is expected to help in mitigating the carbon footprint and carbon cost of funding for both the majors. The MoU was signed by ONGC director (finance) Subhash Kumar and NTPC director (commercial) A K Gupta. ONGC chairman Shashi Shanker and NTPC chief Gurdeep Singh witnessed the signing through video-conference.
\nONGC had forayed into non-conventional energy sources, especially wind power, under its former chairman, late Subir Raha, much before green energy became the buzzword. The company had even set up a Renewable Energy Cell (REC) under chief technical services. The cell was supposed to act as the knowledge centre for all renewable energy projects.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: State-run explorer ONGC and generation utility NTPC on Thursday signed a joint venture MoU for renewable energy business, a move aimed at seeking climate redemption as the country\u2019s biggest producer and consumer of fossil fuels. The companies, through the joint venture, will set up renewable energy projects, including offshore wind power projects, in India and abroad. They will also explore opportunities in the fields of sustainability, energy storage, e-mobility and ESG (environmental, social and governance)-compliant projects, ONGC said in a statement. The joint venture is expected to help in mitigating the carbon footprint and carbon cost of funding […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-352694","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/352694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=352694"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/352694\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=352694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=352694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=352694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}