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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.

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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.

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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.

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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.

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