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The Oil and Natural Gas Corp (ONGC), in an effort to establish a strong foothold in clean energy, plans to build a 1 gigawatt (1GW) solar power station in Rajasthan.
According to Economic Times, the Oil and Gas PSU is currently in talks with the Rajasthan government and wants 5,000 acres of land for the mega solar project.
According to the ET report, the person familiar with the company’s plan said that “the moment the land has been allotted, we’ll go full throttle in executing the project.”
After the allotment, the project will take approximately three years to complete. It is estimated that it will require an investment of Rs. 5,000 crore.
The plant proposed will meet the ONGC’s in-house electricity needs. It will also enable the company to trade power on the open market.
This project will have a significant impact on ONGC, as the Maharatna PSU has very little presence in the area of renewable energy.
ONGC currently has a wind capacity of 153 MW and a solar generation capacity of 31 MW.
The company has now taken steps to achieve its green goals, including pushing for certain projects and partnering with power companies.
Earlier, Energy major had signed a memorandum (MoU), with Greenko ZeroC Private Limited, (Greenko), in order to jointly pursue potential opportunities in renewables, green ammonia and green hydrogen.