A joint venture agreement for renewable energy is signed by ONGC and NGEL.

On Wednesday, during the second day of the ongoing India Energy Week, state-owned Oil and Natural Gas Corporation (ONGC) and NTPC Green Energy Limited (NGEL) formally entered into a Joint Venture Agreement (JVA) with a special focus on offshore wind projects. This development comes as India emphasizes the advancement of renewable energy initiatives. Union Minister of Petroleum and Natural Gas Hardeep Singh Puri attended the function and stated that it was a critical partnership aimed at leading renewable energy initiatives in India and internationally.


In the presence of ONGC Chairman and CEO Arun Kumar Singh, NTPC Limited Chairman and Managing Director Gurdeep Singh, and NGEL CEO Mohit Bhargava, ONGC Executive Director Satish Kumar Dwivedi signed the JVA.

In line with the country's aspirational targets for a greener future, NGEL and ONGC are working together to advance sustainable energy initiatives. By combining their resources and knowledge bases, both organizations will be able to promote environmental stewardship and innovation.


It is noteworthy that ONGC had previously laid the groundwork for this collaboration by signing a Memorandum of Understanding (MoU) with NGEL in September last year. The primary focus of the MoU was to assess feasibility and establish renewable energy projects across various sectors. The Joint Venture Agreement solidifies the commitment of ONGC and NGEL to jointly navigate the complexities of renewable energy ventures, marking a significant step towards achieving India’s renewable energy goals.