NTPC Ltd. and Indian Oil have announced plans to work together on renewable energy generation and storage, as well as gas-based power, to support the refiner’s industrial facilities.
Indian state-owned power producer NTPC Ltd. and Indian Oil have signed a memorandum of understanding (MoU) to collaborate in the field of renewable energy and mutually explore opportunities for the supply of round-the-clock captive renewable power.
NTPC and Indian Oil will work on the generation and storage of renewable energy or other forms of energy, including gas-based power, primarily to cater to Indian Oil refineries or other installations. This partnership will support the country’s commitment to achieve renewable energy targets and reduce greenhouse gas emissions.
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“NTPC is taking various steps to make its energy portfolio greener by adding significant capacity of renewable energy sources so that our non-fossil fuel-based capacity will become equal or greater than our thermal portfolio by 2032,” said Gurdeep Singh, NTPC chairman and managing director. “Through this MoU, the strengths of both the organizations can be leveraged to achieve the aim of the country to meet its net-zero commitments.”
NTPC, India’s largest integrated energy company, has an installed capacity of 67,657.5 MW (including 13,425 MW through ventures and subsidiaries) comprising 47 NTPC stations (23 coal-based stations, seven gas-based stations, one hydro station, one small hydro, 14 solar PV and one wind-based station) and 26 joint venture stations (nine coal-based, four gas-based, eight hydro, one small hydro, two wind and two solar PV).
