NTPC and IOCL reach an agreement to establish renewable energy projects

To meet the 24/7 power needs of IOCL refineries, NTPC Green Energy (NGEL) and Indian Oil Company (IOCL) have signed a contract to establish renewable energy projects.

In addition to Gurdeep Singh, chairman and general manager of NTPC and Shrikant Madhav Vaidya, chairman of IOCL, the JV agreement was signed in their presence.

The two giants will be able to meet the government's clean energy objectives in their respective main activities thanks to the signing of this joint venture agreement.

To aggressively pursue its green energy business, NTPC, through its wholly owned subsidiary NGEL, has set the bold goal of building a 60GW renewable energy portfolio over the next decade.

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