NTPC Green Energy Limited (NGEL) inks pact with Indian Oil Corporation Limited (IOCL)
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Mumbai, March 20, 2023: NGEL, a wholly owned subsidiary of NTPC Limited, signed a Joint Venture Agreement on 20th March,2023 with IOCL for setting up of renewable energy projects to meet Round the Clock power requirement of IOCL Refineries.
The JV Agreement was signed in the august presence of Shri Gurdeep Singh, CMD, NTPC Limited, Shri Shrikant Madhav Vaidya, Chairman, IOCL, Shri D. K. Patel, Director (HR), NTPC Limited, Shri U.K. Bhattacharya, Director (Projects), NTPC Limited, Shri Jaikumar Srinivasan, Director (Finance), NTPC Limited, Ms. Sukla Mistry, Director (R), IOCL and along with other senior officials from NGEL, NTPC REL, and IOCL.
NTPC Limited, through its wholly owned subsidiary, NGEL, has set an ambitious target of building a renewable generation portfolio of 60 GW over the next decade to aggressively pursue its green energy business.
The signing of this Joint Venture Agreement between the two Maharatna behemoths will enable NTPC Limited and Indian Oil to meet the Government of India's Clean Energy Targets in their respective core businesses.
The Joint Venture Agreement was signed by Shri Kausik Basu, ED (M&I), IOCL and Shri V. V. Sivakumar, GM, NGEL at NTPC Corporate Centre, SCOPE Complex, New Delhi.