Oil and Natural Gas Corporation (ONGC) and NTPC Green Energy (NGEL) have signed a Joint Venture Agreement (JVA) to develop renewable energy projects focusing on offshore wind. This was signed on February 7, 2024 during India Energy Week held at Goa.
The JVA marks a pivotal collaboration aimed at spearheading Renewable Energy Projects both within India and on the international stage. Specifically, the agreement encompasses ventures in offshore wind projects while also delving into potential opportunities in Storage, E-mobility, Carbon Credits, Green Credits, Green Hydrogen business, and its derivatives such as Green Ammonia and Green Methanol.
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.
