ONGC NTPC Green Private Ltd (ONGPL) has been established as a 50:50 joint venture between NTPC Green Energy Limited (NGEL) and ONGC Green Limited (OGL). NGEL is a wholly-owned subsidiary of NTPC, while OGL operates under Oil and Natural Gas Corporation Limited (ONGC).
Incorporated on November 18, 2024, ONGPL aims to drive renewable energy (RE) initiatives through greenfield projects and acquisitions, with a particular focus on offshore wind energy. The company will also evaluate opportunities in energy storage, e-mobility, and ESG-compliant ventures, aligning with its mission to foster sustainability. According to its stock exchange filing, ONGPL will develop and acquire RE assets while exploring the potential for offshore wind energy projects and other related undertakings.
The joint venture also plans to venture into carbon and green credit markets, supporting India’s transition to a low-carbon economy. The Ministry of Power granted regulatory approval for the venture on August 19, 2024. NGEL and OGL have equally contributed ₹5 lakh each as equity capital, acquiring 50,000 shares at ₹10 per share.
ONGPL intends to capitalize on tender-based competitive bidding (TBCB) to expand its renewable energy footprint in domestic and international markets. It will also work on developing RE projects for its parent companies and their affiliates.
This strategic partnership marks a significant step in advancing India’s renewable energy capabilities, especially in offshore wind energy, and underscores the commitment of both parent entities to sustainable energy development. ONGPL focuses on developing and acquiring renewable energy projects, with a special emphasis on offshore wind energy. The company also plans to explore opportunities in energy storage, e-mobility, and carbon credits, aligning with India’s transition to a low-carbon economy.
With regulatory approval from the Ministry of Power, ONGPL aims to leverage tender-based competitive bidding (TBCB) and other strategies to expand its renewable energy footprint both domestically and internationally. This collaboration marks a significant milestone for its parent entities, NTPC and ONGC, in advancing sustainable energy and ESG-compliant initiatives.
