NTPC, ONGC Renewable Energy JV

The two state-owned power producers have signed a sign MoU to set up renewable energy projects in India and overseas, and sustainability, storage, e-mobility and ESG (Environmental, Social and Governance) compliant projects. This will enable both companies to accelerate their footprint in Renewable Energy. Currently, NTPC has 920 MW of installed renewable power projects in its portfolio and about 2300 MW of RE projects under construction. This tie up would accelerate its RE capacity addition program and also expand its footprint in offshore wind and overseas renewable energy projects. ONGC has a renewable portfolio of 176 MW comprising 153 MW wind power and 23 MW of solar. This development will enhance the presence of ONGC in the Renewable Power business and enable its ambition to add 10 GW of renewable power to its portfolio by 2040.