NTPC Limited and Oil India Limited have signed a Memorandum of Understanding to explore collaboration in the areas of renewable energy, green hydrogen and its derivatives, and decarbonization initiatives including through use of geothermal energy.
The MoU shall also facilitate sharing of knowledge and experience on upcoming decarbonisation technologies such as carbon sequestration.
NTPC Limited is the largest integrated power utility corporation of India.
A state-owned oil company, Oil India Limited is the second-largest national oil and gas company of India. Both are Maharatna giants.
NTPC is present across the power sector value chain, with a total installed capacity of 73,024 MW. Oil India Limited is engaged in the business of exploration, development and production of crude oil and natural gas.
NTPC is committed to achieve 60 GW of Renewable Energy capacity by the year 2032. It aims to be a major player in Green Hydrogen Technology and Energy Storage domain. The company is taking up several initiatives towards decarbonization such as Hydrogen blending, Carbon Capture and Fuel cell, buses among others.
