ONGC Inks MoU with Greenko To Pursue Potential Opportunities in Renewables and Green Hydrogen

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On Tuesday, Energy major Oil and Natural Gas Corporation Limited (ONGC) signed a memorandum (MoU), with Greenko ZeroC Private Limited, (Greenko), in order to jointly pursue potential opportunities in renewables, green ammonia and green hydrogen.

In New Delhi, ONGC Director Onshore Anurag Sharma and Greenko CEO & Managing Directors Anil Kumar Chalamalasetty signed the MoU. It is valid for two-years. Hardeep Singh Puri, Union Minister of Petroleum and Natural Gas & Housing and Urban Affairs, witnessed the signing.

This MoU is in accordance with the National Hydrogen Mission, which was launched by Prime Minister to make India a global hub for green hydrogen. According to a statement by the Ministry of Petroleum & Natural Gas, India’s goal of producing 5 million tonnes of Green Hydrogen per year by 2030 will be achieved through the activities set out in this MoU.

The MoU will serve as a stepping stone to ONGC’s Energy Strategy 2040 renewable energy targets. The ministry stated that ONGC aims at meeting its objectives, such as de-risking portfolio against long-term disruptions and reducing carbon footprint, by entering the renewables space.

Pankaj Jain (Minister of Petroleum & Natural Gas), ONGC CMD, Alka Mittal, ONGC Directors, and other senior officials from ONGC, Greenko, were all present at the signing ceremony. Greenko is India’s largest renewable energy company.