NTPC and Indian Oil sign agreement in renewable energy push

NTPC India power project

NTPC and Indian Oil signed a memorandum of understanding (MoU) to collaborate in the field of renewable energy and mutually explore opportunities for supply of low carbon/RE RTC captive power.

The MoU was signed at New Delhi in the presence of Gurdeep Singh, CMD-NTPC, Shrikant Madhav Vaidya, Chairman Indian Oil and CK Mondol, Director (Commercial), NTPC, SSV Ramkumar, Director R&D and P&BD Indian Oil.

The signatories of the MoU were Sangeeta Kaushik, Chief General Manager (BD) NTPC and VK Raizada, Executive Director (M&I) Indian Oil.

NTPC and Indian Oil has come together for generation and storage of renewable energy or other forms of energy, including gas-based power, primarily to cater for Indian Oil refineries or other installations.

NTPC Ltd, India’s largest integrated energy company, has installed capacity of 67,657.5 MW (including 13,425 MW through JVs/Subsidiaries) comprising of 47 NTPC stations (23 coal-based stations, 7 gas-based stations, 1 hydro station, 1 small hydro, 14 solar PV and 1 wind-based station) and 26 joint venture stations (9 coal based, 4 gas based, 8 hydro, 1 small hydro 2 wind and 2 solar PV).