India’s leading public sector undertakings, Oil and Natural Gas Corporation (ONGC) and NTPC Limited, have officially formed a joint venture (JV) aimed at accelerating investments and innovation in the renewable and new energy sectors. This strategic partnership is part of both companies’ broader commitment to align with India’s net-zero emission targets and to contribute to a sustainable energy future. The JV will explore opportunities across a broad spectrum of clean energy technologies, including solar, wind, green hydrogen, energy storage, and emerging low-carbon solutions.

Under the agreement, the joint venture will focus on developing utility-scale renewable energy projects both in India and abroad. These include floating solar installations, offshore wind projects, and decentralized green energy solutions for rural and industrial clusters. The collaboration will also prioritize research and development, aiming to foster breakthroughs in green hydrogen production, carbon capture and storage, and hybrid energy systems. This initiative represents a synergy of ONGC’s vast energy infrastructure and NTPC’s expertise in power generation and renewable technologies.

The JV aligns with the Indian government’s national policies, such as the National Hydrogen Mission, Renewable Energy Development Programme, and the Energy Transition Roadmap, and is expected to draw support under schemes like the Production-Linked Incentive (PLI) for green energy. By combining resources and expertise, ONGC and NTPC aim to scale up clean energy capacity, reduce dependence on fossil fuels, and play a pivotal role in India’s energy transformation journey, positioning the country as a leader in the global green energy transition.