Oil and Natural Gas Corporation (ONGC) is eyeing generating electricity from wind at its vast offshore acreage as it looks to augment its renewable energy portfolio. ONGC has oil and gas fields both in the Arabian Sea and Bay of Bengal. That experience of operating in shallow and deep-sea is now being tapped to set up wind turbines to generate electricity that could be wired to land. Last year, ONGC signed an MoU with India’s largest electricity generator NTPC to explore setting up offshore wind projects along with the 7,600-km coastline.
Offshore windmills as almost twice as efficient as onshore wind turbines. But the cost per MW for offshore turbines is higher because of stronger structures and foundations needed in marine environments. The government has set a target of 5 GW of offshore wind installations by 2022 and 30 GW by 2030.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
| Company Name | CMP |
|---|---|
| ONGC | 235.95 |
| Oil India | 469.00 |
| Jindal Drilling&Inds | 593.10 |
| Deep Industries | 670.00 |
| Asian Energy Service | 373.00 |
| View more.. | |
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