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ONGC Seeks 5,000 Acres Land In Rajasthan To Set Up 1 Gigawatt Solar Power Plant: Report
Solar panels (Representative Image) (MONEY SHARMA/AFP/Getty Images)
In a bid to secure a foothold in the clean energy space, the Oil and Natural Gas Corp (ONGC) is planning to set up a 1 gigawatt (GW) solar power plant in Rajasthan.
The Oil and gas PSU is in discussions with the Rajasthan government and is seeking 5,000 acres land to set up the mega solar project, Economic Times reported citing an executive aware of the company's plans.
"The moment the land is allotted, we will go full throttle on executing the project," the person was quoted in the ET report as saying.
The project is expected to entail an investment of Rs 5,000 crore and take about three years to finish after the allotment of land.
The proposed plant will help meet in-house electricity demand of ONGC. Further, it will also allow the company to sell power on the market.
The project will be significant for ONGC as the Maharatna PSU barely has a presence today in the renewable energy space.
ONGC currently has a 153 MW of wind and 31 MW of solar generation capacity.
But the company now begun to act on its green goals by pushing hard on some projects and by tying up with some power companies.
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