November 25, 2024 10:52 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Maharashtra Elections: Mahayuti's newly-elected MLAs to select CM in key meeting on Monday | Mahayuti routs MVA in Maharashtra, INDIA retains Jharkhand; Priyanka's triumphant poll debut | How can Mahayuti win over 200 seats? Sanjay Raut cries foul over Maharashtra mandate | 'Third World War has begun:' Ex-Ukraine military commander-in-chief Valery Zaluzhny | UK-India Free Trade Agreement negotiations to resume in early 2024
NTPC and Indian Oil sign agreement for powering refineries with renewable energy
NTPC

NTPC and Indian Oil sign agreement for powering refineries with renewable energy

| @indiablooms | 19 Jul 2022, 10:57 am

Mumbai/IBNS: NTPC and IndianOil signed an agreement for the formation of a joint venture company for meeting the power requirements of upcoming projects of IndianOil refineries in New Delhi Monday.

Unified in the purpose of increasing the usage and capacity of renewable energy sources in the country, the state-run corporations teamed up setting-up renewable energy-based power plants for IndianOil Refineries.

Gurdeep Singh, CMD, NTPC said, "The joint venture between the two energy majors for a common purpose is a classic example of teamwork and collaboration for others to follow."

Shrikant Madhav Vaidya, Chairman, IndianOil, said, "It is indeed a powerful statement, as two fossil fuel giants of the country - IndianOil & NTPC join hands for changing their path towards green energy."

He further added that “the two Maharatna PSUs can now leverage their capabilities to push forward the green growth agenda”.

Going forward NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC, will form the JV Company for supply of RE-RTC power to IndianOil. NGEL will be an umbrella company for consolidating NTPC’s total renewable energy businesses.

IndianOil plans to meet the additional power requirement of its refineries using round-the-clock renewable energy to the tune of 650MW by Dec 2024 through this JV.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.