NTPC Green Energy Forms Joint Venture “INDIANOIL NTPC GREEN ENERGY” for Renewable Power Projects

NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC Limited, has recently established a 50:50 joint venture company called “INDIANOIL NTPC GREEN ENERGY PRIVATE LIMITED” in partnership with Indian Oil Corporation Limited. The joint venture entity was officially incorporated on 2nd June 2023.

The primary objective of INDIANOIL NTPC GREEN ENERGY PRIVATE LIMITED is to focus on the development of renewable energy-based power projects, which may include solar PV, wind, energy storage, or any combination thereof. The aim is to generate a minimum capacity of 650 MW of round-the-clock renewable power to fulfill the energy requirements of Indian Oil Corporation Limited.

This corporate disclosure underscores NTPC Green Energy Limited’s commitment to sustainable and eco-friendly power generation. By partnering with Indian Oil Corporation Limited, a prominent player in the energy sector, both entities aim to harness the potential of renewable energy sources and contribute significantly to India’s green energy transition.

The establishment of this joint venture aligns with the broader goal of reducing reliance on conventional fossil fuels and promoting the adoption of clean and renewable energy in the country. Through the development of renewable power projects, INDIANOIL NTPC GREEN ENERGY PRIVATE LIMITED aims to create a reliable and sustainable energy supply while also supporting India’s efforts to combat climate change.

This disclosure serves as an important update regarding the collaborative efforts of NTPC Green Energy Limited and Indian Oil Corporation Limited in driving the growth and expansion of renewable energy infrastructure in India.