NTPC Limited and Indian Oil have signed a memorandum of understanding (MoU) to work together in the field of renewable energy and to jointly explore potential for the delivery of low carbon/renewable energy round-the-clock (RTC) captive power.
Indian Oil is expected to supply 85 per cent of the power requirement for new projects in its refineries in the foreseeable future, mostly from renewable sources, as part of an effort to expand its green energy portfolio. According to the reports, Indian Oil is well positioned to capitalise on India’s sustainable commitments through a number of green initiatives, including increased use of natural gas in all refineries, ethanol-blended Motor Spirit, the sale of Compressed Biogas and the production of biodiesel using cooking oil as a feedstock.
Furthermore, NTPC is taking initiatives to make its energy portfolio greener by adding considerable renewable energy capacity, with the goal of having our non-fossil fuel-based capacity equal or bigger than our thermal portfolio by 2032. The strengths of both organisations will be used through this MoU to help the government accomplish its net zero commitments. NTPC Limited, India’s largest integrated energy company, currently has a total installed capacity of 67,657.5 MW, including 13,425 MW through joint ventures or subsidiaries.