NTPC Green Energy inks pact with Indian Oil Corporation (IOCL)
NTPC Green Energy (NGEL), a wholly owned subsidiary of NTPC, has signed a Joint Venture Agreement with Indian Oil Corporation (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, Shrikant Madhav Vaidya, Chairman, IOCL, D K Patel, Director (HR), NTPC, U K Bhattacharya, Director (Projects), NTPC, Jaikumar Srinivasan, Director (Finance), NTPC, Sukla Mistry, Director (R), IOCL and along with other senior officials from NGEL, NTPC REL, and IOCL.
NTPC, 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 aggressively pursue its green energy business.
The signing of this Joint Venture Agreement between the two Maharatna behemoths will enable NTPC and Indian Oil to meet the Government of India's Clean Energy Targets in their respective core businesses.
The Joint Venture Agreement was signed by Kausik Basu, ED (M&I), IOCL and V V Sivakumar, GM, NGEL at NTPC Corporate Centre, SCOPE Complex, New Delhi.
