NTPC Green Energy Limited (NGEL) inks pact with Indian Oil Corporation Limited (IOCL)

NGEL, a wholly owned subsidiary of NTPC Limited, signed a Joint Venture Agreement on 20th March 2023 with IOCL for setting up of renewable energy projects to meet Round the Clock power requirement of IOCL Refineries. The JV Agreement was signed in the august presence of Gurdeep Singh, CMD, NTPC Limited, Shrikant Madhav Vaidya, Chairman, IOCL, D. K. Patel, Director (HR), NTPC Limited, U.K. Bhattacharya, Director (Projects), NTPC Limited, Jaikumar Srinivasan, Director (Finance), NTPC Limited, Ms. Sukla Mistry, Director (R), IOCL and along with other senior officials from NGEL, NTPC REL, and IOCL.NTPC Limited, through its wholly-owned subsidiary, NGEL, has set an ambitious target of building a renewable generation portfolio of 60 GW over the next decade to pursue its green energy business aggressively. The signing of this Joint Venture Agreement between the two Maharatna behemoths will enable NTPC Limited and Indian Oil to meet the Government of India's Clean Energy Targets in their respective core businesses.

Kausik Basu signed the Joint Venture Agreement, ED (M&I), IOCL, and  V. V. Sivakumar, GM, NGEL at NTPC Corporate Centre, SCOPE Complex, New Delhi.