NTPC and Oil India sign MoU for decarbonisation initiatives

NTPC Limited has signed a MoU with Oil India Limited to investigate collaboration in green hydrogen and its derivatives, renewable energy, geothermal, and decarbonisation initiatives. The MoU will facilitate in sharing expertise and knowledge about decarbonisation technologies like carbon sequestration.

The two companies seek to expand their presence in the field of renewable energy and venture into sustainable solutions through the MoU, in order to help the country, meet its goal of achieving net zero by 2070.

Recently, in August 2023, NTPC Limited announced that it had been establishing a hydrogen fuelling station, a solar power plant, to deliver 5 fuel cell buses to be operated in Leh’s intracity routes. After processes of field trials, roadworthiness checks and other legal requirements for three months the first hydrogen bus was stationed in Leh on August 17, 2023.

Earlier in the same month, NTPC Renewable Energy Limited secured an 80 MW floating solar project at a ceiling tariff of Rs 3.8 per kWh. The project will be situated in Omkareshwar Reservoir, Khandwa, Madhya Pradesh.