- NTPC has inked an agreement with Indian Oil Corporation (IOC) to create a joint venture company, in a bid to meet the power requirements for upcoming projects of IOC refineries.
- Both the entities have joined hands with the objective of increasing the usage and capacity of renewable energy sources in India.
- As per plan. renewable energy-based power plants will be set-up by NTPC Green Energy (NGEL) for Indian Oil refineries.
- NGEL will act as an umbrella company, to consolidate NTPC’s total renewable energy businesses.
- Indian Oil seeks to fulfil the additional power requirement of its refineries through renewable energy equal to 650MW by December 2024 through the joint venture.
Tags:
Treaty & Agreements
