IOC signs Joint Venture Agreement with NTPC Green Energy

21 Mar 2023 Evaluate

In a bid to enable India’s decarbonization push, Indian Oil Corporation (IOC) and NTPC Green Energy (100% subsidiary of NTPC), have signed of Joint Venture Agreement for formation of a Joint Venture (JV) company to develop Renewable Energy (RE) Power plants to meet Round the clock power requirement of new projects of IndianOil Refineries in India.

The Joint venture is a synergistic alliance that brings together the strong credentials of NTPC which is a dominant power major in India with presence in the entire value chain of the power generation business and IOC’s established expertise in petroleum refining along with its presence across the energy spectrum.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

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