-1.05 (-0.42%) Oil and Natural Gas Corporation (ONGC) has signed a Memorandum of Understanding (MoU) with Power Grid Corporation of India to collaborate on green hydrogen and clean energy projects.
This partnership underscores the commitment of both companies to drive sustainable energy growth and support India's climate goals by reducing dependence on fossil fuels and promoting a low-carbon economy. The collaboration aligns with the National Green Hydrogen Mission (NGHM) program which aims to position India as a global leader in green hydrogen production, use, and export.
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.