OCTOBER 20238TOP STORIESONGC & 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 Limited (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.With a total installed capacity of more than 73 GW, NTPC is the largest power utility in India. Its primary activity is the generation of electricity. A fully owned subsidiary named "NTPC Green Energy Limited" (NGEL) has been established as part of the company's efforts to expand its portfolio of renewable energy sources. NGEL will pursue renewable energy parks and projects, including those involving offshore wind farms, green hydrogen, energy storage technologies, carbon markets, and continuous RE power. TATA POWER RENEWABLE ENERGY TO BUILD UP 41 MW CAPTIVE SOLAR PLANT IN TAMIL NADUThe Tata Power Company Ltd. subsidiary Tata Power Renewable Energy Ltd (TPREL) said that it will be building a 41-MW captive solar facility in Thoothukudi, Tamil Nadu. In Tirunelveli, Tamil Nadu, TP Solar Ltd. is starting construction on a massive 4.3 GW solar cell and module production facility. This project will support TP Solar in that endeavour.This solar facility, which yearly generates a considerable 101 million units of power, is expected to reduce CO2 emissions by about 72,000 metric tonnes. Within a year of the project development agreement's signature, the project is expected to be put into operation.TPREL has established TP Govardhan Creatives Ltd, a specialised organisation, to manage the construction, use, and upkeep of this facility for TP Solar. By the fiscal year 2024­2025, TP Solar, a TPREL subsidiary, is expected to start producing solar cells and modules for sale. This programme represents an important turning point in Tata Power Renewable Energy's efforts to strengthen India's green energy infrastructure.Ashish Khanna, CEO of TPREL, "Green energy supply from the captive solar plant is a brilliant symbol of our commitment to a sustainable transition to green energy. It powers our cutting-edge 4.3 GW solar cell and module production facility. As a result, the country's ambitious goal of achieving 500 GW of non-fossil fuel-based energy capacity by the end of this decade will be significantly advanced. This arrangement will serve as a model for all the upcoming solar component manufacturing facilities to source green energy for their production.TPREL's overall capacity will increase to 7,877 MW with the addition of this new captive solar plant. This includes 3,720 MW of projects that are in various stages of development as well as 4,157 MW of operating capacity, which is made up of 3,154 MW of solar energy and 1,003 MW of wind energy.
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