State-owned entities NTPC and Oil India have recently formalized an agreement to investigate potential partnerships in various sectors, including renewable energy, the production of green hydrogen, and its related products. Additionally, they are committed to pursuing initiatives related to geothermal energy and other efforts aimed at reducing carbon emissions, as per NTPC’s official statement.
The memorandum of understanding (MoU) was officially signed in the presence of NTPC CMD Gurdeep Singh and Oil India CMD Ranjit Rath on Thursday.
This MoU focuses on exploring collaboration in the domains of renewable energy, green hydrogen and its byproducts, geothermal energy, and various other projects geared towards reducing carbon emissions. Furthermore, it will facilitate the exchange of knowledge and expertise concerning emerging decarbonization technologies such as carbon sequestration.
NTPC has set an ambitious goal of achieving 60 GW of installed renewable energy capacity by 2032, while also positioning itself as a key player in the field of green hydrogen technology and energy storage.
