IOCL to form 50-50 JV With NTPC Green Energy for RE Projects

NTPC Green Energy Limited (NGEL), a 100% subsidiary of NTPC has signed an agreement to form a Joint Venture (JV) with Indian Oil Corporation Limited (IOCL) for Renewable Energy (RE) projects. NGEL and IOCL will hold the equal stake in the proposed JV. This information was stated by NTPC and IOCL in their press releases dated 20th March 2023.

These upcoming Renewable Energy projects will provide a Round-The-Clock power supply to upcoming projects of IndianOil at its refineries.

NGEL’s target is to set up 60 GW RE capacity in the next 10 years to efficiently run its clean energy business.