NTPC, Indian Oil partner to develop RE projects for refineries

This will help meet the round-the-clock power requirement for IOCL Refineries.

NTPC subsidiary, NTPC Green Energy Limited (NGEL), signed a joint venture deal with the Indian Oil Corporation (IOCL) to set up renewable energy projects to comply with the round-the-clock power requirement of IOCL Refineries.

In a statement, the Ministry of Power said the signing of the agreement will allow the companies to contribute to India’s Clean Energy Targets.

READ MORE: NTPC transfers RE assets to its green energy subsidiary

NTPC targets its renewable generation portfolio to reach 60 gigawatts over the next decade through NGEL.

The agreement was signed by Kausik Basu, ED (M&I) at IOCL, and NGEL GM V.V. Sivakumar.