NTPC and IndianOil announced a joint venture company for meeting the power requirements of upcoming projects of IndianOil refineries.
NTPC Green Energy (NGEL), a subsidiary of NTPC, will form the JV company for supply of RE-RTC power to IndianOil. NGEL will be an umbrella company for consolidating NTPC’s total renewable energy businesses.
IndianOil plans to meet the additional power requirement of its refineries using renewable energy to the tune of 650MW by Dec 2024 through this JV.