OCTOBER 20239TOP STORIESOHMIUM PLANS TO ANNOUNCE MULTIPLE PROJECTS IN INDIA IN COMING QUARTERSRasool Aghatehrani, chief strategy and marketing officer of Ohmium, a maker of green hydrogen eletrolysers with headquarters in the US, the company aims to launch a number of projects in India in the upcoming quarters. In order to reach a 2 GW capacity, he claimed that the company is actively increasing its annual manufacturing capacity in India. The expansion entails building new facilities as well as upgrading ones that already exist in Bangalore and Chennai to suit our growth goals.Aghatehrani continued, "Ohmium is investing in an electrolyser manufacturing facility in India that leverages the R&D centres in Bangalore, India, and the Silicon Valley in the US, driving innovation in proton exchange membrane (PEM) electrolyser systems. This comes after a successful $250 million Series C fundraise earlier this year. The $250 million, which was spearheaded by TPG Rise Climate, will enable us to further expand our manufacturing capabilities, R&D initiatives, and client project assistance.In order to fulfil the rising market demand in India, the US, Europe, and the Middle East, Aghatehrani continued, the company would be able to update its manufacturing facilities and increase its yearly manufacturing capacity to 2 GW as a result. With projects currently under construction in India, Europe, and the US for a variety of uses, including electricity, energy storage, transportation, and refinery, the company has a global project pipeline of more than 2 GW. ONGC & NTPC GREEN ENERGY SIGN AN AGREEMENT FOR RENEWABLE ENERGY PROJECTSIndian government's energy transition, the state-run Oil and Natural Gas Corporation (ONGC) and NTPC Green Energy (NGEL) signed a memorandum of understanding (MoU) to examine the development of renewable energy and offshore wind power projects.The collaboration will also pursue initiatives in several fields of renewable energy both in India and abroad, including offshore wind projects, opportunities in storage, e-mobility, carbon credits, green credits, the business of green hydrogen, and its derivatives (green ammonia and green methanol).In the presence of Gurdeep Singh, CMD of NTPC, and Arun Kumar Singh, Chairman and CEO of ONGC, Mohit Bhargava, CEO of NGEL, and Deb Adhikari, ED-JV and BD of ONGC, signed the MoU. Through joint ventures, ONGC has expanded its business over the years beyond its core exploration and production activities into petrochemicals, power, and SEZ development.As part of its diversification efforts, ONGC has deployed roughly 189 MW of renewable energy power generation capacity, including wind and solar PV plants dispersed across several sites. The renewable energy sector is the emphasis of ONGC's energy strategy. By 2030, ONGC hopes to reach 10 GW of renewable energy capacity, and by 2038, it wants to be net-zero.
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