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Indian Oil, NTPC form JV for renewable energy-based power plant

Tuesday, 19 Jul 2022
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NTPC and Indian Oil have entered an agreement for formation of joint venture (JV) company for meeting the power requirements of upcoming projects of the Indian Oil refineries. 
Indian Oil plans to meet the additional power requirement of its refineries using round-the-clock renewable energy of 650 MW by December 2024 through this JV. 
The state-run corporations teamed up for setting-up renewable energy-based power plants for Indian Oil Refineries. 
NTPC Green Energy (NGEL), a wholly owned subsidiary of NTPC, will form the JV company for supply of RE-RTC power to Indian Oil.
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