ONGC and Greenko partner for green hydrogen

Oil and Natural Gas Corporation Limited (ONGC) has signed a Memorandum of Understanding (MoU) with Greenko ZeroC Private Limited to collectively work on determining opportunities in the space of renewables including green hydrogen, green ammonia, and other green hydrogen derivatives. The MoU will be applicable for two years. The initiatives proposed in this MoU will help India meet its objective of producing 5 million tonnes of green hydrogen annually by 2030.

This MoU will further help ONGC meet its renewable energy targets outlined in its Energy Strategy 2040. The collaboration is in line with the government’s National Hydrogen Mission which aims to make India a global green hydrogen hub. By moving into the renewables space, ONGC intends to meet its objectives such as de-risking its portfolio against long-term disruptions and reducing its carbon footprint.

Recently in May 2202, the Greenko Group announced about setting up a renewable energy storage plant in Kurnool, Andhra Pradesh. The 5,230 MW project is being set up at a cost of $3 billion. The project will have a total capacity of 3 GW of solar power, 550 MW of wind power, and 1,680 MW of pump storage capacity for six hours.

GET ACCESS TO OUR ARTICLES

Enter your email address