New Delhi: State-owned power giant NTPC and Indian Oil on Friday signed a memorandum of understanding (MoU) to collaborate in the field of renewable energy (RE) and mutually explore opportunities for supply of low carbon and clean energy round-the-clock captive power. According to the official press release, this is a first-of-its-kind initiative by two national energy majors of India to support the country’s commitment to achieve renewable energy targets.
“As a global energy major, environmental priority is being weaved into every business aspect of Indian Oil and now, we intend to use green energy to power new projects and refinery expansions,” said Shrikant Madhav Vaidya, chairman, Indian Oil.
NTPC and Indian Oil have come together for generation and storage of renewable energy or other forms of energy, including gas-based power, primarily to cater for Indian Oil refineries or other installations, the release added.
“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, CMD, NTPC.
NTPC’s present installed capacity is 67,657.5 MW comprising 47 NTPC stations and 26 joint venture stations.
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