NTPC Limited and Oil and Natural Gas Corporation (ONGC) have formed a joint venture company (JVC) to promote their interests in the renewable and new energy arena.
This joint venture will use renewable energy and new energy opportunities, including solar, wind and energy storage.
This joint venture was formed through their green energy subsidiaries, NTPC Green Energy Ltd (NGEL) and ONGC Green Energy Ltd.
It will also focus on new and emerging technologies in the field, such as energy storage including both pump and battery storage.
The JVC will work to acquire renewable energy assets and will consider participation in upcoming offshore wind tenders in Tamil Nadu and Gujarat.
ONGC is aiming to acquire more than 1 GW of renewable energy projects to enter the clean energy services market.
