India’s largest power utility, NTPC, and state-owned oil company, Oil India Limited, have signed a Memorandum of Understanding (MoU) to collaborate on Renewable Energy, Green Hydrogen, Geothermal, and other Decarbonization initiatives. The MoU will also facilitate knowledge sharing on upcoming technologies like Carbon Sequestration.
Through this MoU, NTPC and Oil India Limited aim to expand their presence in the Renewable Energy sector and contribute to achieving the nation’s Net-Zero targets.
The MoU was signed in the presence of NTPC’s CMD, Gurdeep Singh, and OIL’s CMD, Dr. Ranjit Rath, along with their Functional Directors.
NTPC has committed to achieving 60 GW of Renewable Energy capacity by 2032 and becoming a major player in Green Hydrogen Technology and Energy Storage. The company is working on various decarbonization initiatives such as Hydrogen blending, Carbon Capture, and Fuel cell buses.
