ONGC signs MoU with NTPC MOU

ONGC signs MoU with NTPC

 

New Delhi: Oil and Natural Gas Corporation Limited (ONGC) and NTPC ltd are planning to set up a Joint Venture Company for Renewable Energy business. The two Maharatnas entered into a Memorandum of Understanding (MoU) on 21 May 2020 in Delhi to formalize this arrangement. The MoU will enable both companies to achieve their targets in Renewable Energy business.

The MOU was signed by ONGC Director (Finance) and In-charge Business Development and Joint Ventures Mr. Subhash Kumar and Director (Commercial) NTPC, Mr. A K Gupta. ONGC CMD Mr. Shashi Shanker and NTPC CMD Mr. Gurdeep Singh (on Virtual conferencing) along with the Directors of two public enterprises witnessed the occasion.
 
As per the MoU, NTPC and ONGC will explore and set up Renewable Power assets including offshore wind, in India and overseas, and explore opportunities in the fields of sustainability, storage, E-mobility and ESG (Environmental, Social and Governance) compliant projects.
 
ONGC has a renewable portfolio of 176 MW comprising of 153 MW wind power and 23 MW of solar. Through this collaboration with NTPC, ONGC envisages significant growth in its presence in the Renewable Power sector as outlined in its Energy Strategy 2040 document.
 
Similarly, NTPC, with a 920 MW of installed Renewable power capacity in its portfolio with about 2300 MW of Renewable Energy projects under construction and aspiring to reach 32 GW by 2032, will benefit from this tie up by expanding its footprint in offshore wind and overseas Renewable energy projects as well.


Posted Date :  22-05-20

Categories : MOU

Similar news

CIL signs MoU with Institute Of Neurosciences

Kolkata: CIL signed a Memorandum of Understanding (MoU) with Institute of Neurosciences, Kolkata for purchase of a 64-slice CT scanner, a Digital X-Ray Unit, a C-Arm Unit and six ventilators as a part of a new CSR initiative. The equipment purchased at a cost of Rs. 4.99 Crores will be used for t
Posted Date :  06-08-20

Read more

RINL signed MoU with EESL

Visakhapatnam: Sri AK Saxena,D(O) in the presence of Sri PK Rath,CMD signed an MoU with EESL_India ,regarding their intention to enter into transactions or services pertaining to implementation of Solar projects .
Posted Date :  01-08-20

Read more

NBCC signed MoU with ALIMCO

New Delhi: On July 27th 2020, in the presence of Sh. P K Gupta, CMD NBCC, the company signed MoU with ALIMCO to contribute fitment of Cochlear Implants to the children with hearing impairment. This is an initiative under NBCC CSR Project for FY 19-20 for Aspirational District of the country. On
Posted Date :  29-07-20

Read more

PFC signs agreement with IIT Kanpur

New Delhi: Power Finance Corporation (PFC), India's leading NBFC, signed a MoA with Indian Institute of Technology- Kanpur (IIT-K) for Training, Research, and Entrepreneurship Development in Smart Grid Technology. Under the MoA, PFC will provide financial assistance of Rs. 2,38,97,000/- (Rupe
Posted Date :  29-07-20

Read more

NCL To Fight Malnutrition Amongst Children

Singrauli: Northern Coalfields Ltd. signed a Memorandum of Understanding (MoU) with Chief Medical & Health Officer, District Singrauli, MP to reduce malnutrition in rural creches in Singrauli. NCL will spend an amount of Rs. 128.86 lakhs over a period of two years towards reducing malnutritio
Posted Date :  27-07-20

Read more

GAIL signed an MoU with Carbon Clean Solutions Limited

New Delhi: GAIL and Carbon Clean Solutions Limited (CCSL) have signed an MoU for exploring project development opportunities in Compressed Biogas (CBG) value chain in India. The MoU aims at building a closer strategic partnership between the two companies by jointly working on CBG projects.
Posted Date :  24-07-20

Read more

NHPC signs MoU with GEDCOL

New Delhi: NHPC signs Memorandum of Understanding with GEDCOL for ‘Development of 500 MW Floating Solar Projects in Odisha under UMREPP’ NHPC Limited, India’s premier hydropower company has signed a Memorandum of Understanding (MOU) with Green Energy Development Corporation of Odisha Lt
Posted Date :  20-07-20

Read more

HAL Establishes COVID-19 Care Centre in 16 Days

Bangalore: Sensing the urgency to control rapidly spreading Pandemic, HAL has converted its Ghatage Convention Centre located on Old Airport Road into a Covid-19 Care Center (CCC) and handed it over to Bruhat Bengaluru Mahanagara Palike (BBMP) here today. The facility having 160 beds with other s
Posted Date :  18-07-20

Read more

NTPC signs MoU with National Investment and Infrastructure Fund

New Delhi: NTPC Ltd has entered into a MoU with National Investment and Infrastructure Fund (NIIF) to explore opportunities for investments in areas like renewable energy and power distribution among other areas of mutual interest in India. The MoU was signed in the presence of NTPC CMD Gurde
Posted Date :  17-07-20

Read more

AAI and BEL signs MoU for co-operation in Civil Aviation industry

Bangalore: In a move that could provide a major boost to the civil aviation industry, the Airports Authority of India (AAI) has entered into an Memorandum of Understanding (MoU) with Navratna Defence PSU Bharat Electronics Limited (BEL), providing a platform for both the companies to collaborate
Posted Date :  14-07-20

Read more

EESL signs deal to initiate trigeneration projects

New Delhi: Energy Efficiency Services Limited (EESL) has partnered with gas energy company GAIL to conduct trigeneration projects. The two parties will jointly undertake studies and if found viable, a 50:50 joint venture between GAIL & EESL will be incorporated to initiate trigeneration. Trig
Posted Date :  14-07-20

Read more

NALCO HCL and MECL signed an MoU with JEMSE

New Delhi: An MoU between JEMSE, a mining company of Argentina and JV company of NALCO, HCL & MECL alongwith a flagship initiative of Ministry of Mines, KABIL was signed for acquisition of lithium & other mineral assets.  
Posted Date :  11-07-20

Read more

ITDC signs MOU with AIIMS

New Delhi: India Tourism Development Corporation Ltd. (ITDC), a public sector undertaking (PSU), under the aegis of the Ministry of Tourism, Government of India, has signed an MOU with AIIMS, New Delhi to come together and monitor the situation to prevent COVID-19 infection and implement preventi
Posted Date :  09-07-20

Read more

IREDA signs MoA for providing SCADA at India International Centre

New Delhi: Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a Memorandum of Agreement (MoA) with India International Centre (IIC) for providing Supervisory Control and Data Acquisition System (SCADA) at IIC. The MoA signed in presence of Shri Pradip Kumar Das, CMD, IREDA
Posted Date :  09-07-20

Read more

SJVN signs MoU with NABARD and HARP

Shimla: An MOU was signed in the august presence of Smt. Geeta Kapur, Director (Personnel), SJVN between SJVN Foundation, National Bank for Agriculture and Rural Development (NABARD) and Hill Agriculture & Rural Development Promotion Society (HARP) for conducting Integrated Tribal Development Pro
Posted Date :  09-07-20

Read more

REC Commits Rs 24 Cr To Shri Kedarnath Utthan Charitable Trust

New Delhi: REC  has committed a financial assistance of Rs 23. 52 crore to Shri Kedarnath Utthan Charitable Trust (SKUCT). The financial assistance will be made through REC's CSR arm, REC Foundation. . The funds will be used for construction of a hospital near the Garhwal Mandal Vikas N
Posted Date :  08-07-20

Read more

CCL To Upgrade 100 Anganwadi Centres In Bokaro

New Delhi: Central Coalfields Ltd. (CCL) has signed an MoU with the Bokaro District Administration, Jharkand to upgrade 100 Anganwadi rural child care centres in Bokaro. CCL, in a CSR initiative will convert 100 Anganwadi centres into model centres at a cost of Rs. 1.5 Lakh each in Bokaro, Jhark
Posted Date :  08-07-20

Read more

NPCC signed MoU with EMRS

New Delhi: An agreement in respect of Construction of Eklavya Model Residential Schools (EMRS) signed between National Educational Society for Tribal Schools, Ministry of Tribal Affairs, Government of India and National Projects Construction Corporation Limited (NPCC) on 7th July, 2020 at New Del
Posted Date :  07-07-20

Read more