NTPC Limited and Oil and Natural Gas Corporation Limited (ONGC) have collaborated to form a joint venture company (JVC) through their green energy subsidiaries, NTPC Green Energy Limited (NGEL) and ONGC Green Energy Limited (OGEL) after securing required approvals from the Department of Investment and Public Asset Management (DIPAM) and NITI Aayog.
NGEL has applied to the Ministry of Corporate Affairs to register this 50:50 JVC with OGEL. This JVC will focus on renewable energy projects, including solar, wind (onshore and offshore), and energy storage (both pumped and battery storage). It also plans to explore new energy areas such as green hydrogen, green ammonia, sustainable aviation fuel, and green methanol. Additionally, the JVC will look at e-mobility, carbon credits, green credits, and other sustainable ventures. The JVC aims to acquire renewable energy assets and participate in upcoming offshore wind projects in Tamil Nadu and Gujarat.