NTPC Limited and Oil India Limited have signed a Memorandum of Understanding (MoU) to explore collaboration in the areas of renewable energy, green hydrogen and its derivatives, and decarbonization initiatives including through use of geothermal energy. The MoU shall also facilitate sharing of knowledge and experience on upcoming decarbonization technologies such as carbon sequestration.
Through the MoU, the two Maharatna giants intend to enhance their footprint in the domain of renewable energy and foray into sustainable solutions towards achieving the nation’s target of achieving Net Zero by the year 2070.
NTPC Limited is one of the largest integrated power utility corporations in India, and Oil India Limited is the second-largest national oil and gas company in the country.