ONGC Inks Pact With Greenko To Produce Green Hydrogen
State-owned energy major Oil and Natural Gas Corporation Limited (ONGC) has signed a Memorandum of Understanding (MoU) with Greenko ZeroC Private Limited (Greenko), to jointly pursue opportunities in renewables, green hydrogen, green Ammonia and other derivatives of green hydrogen.
The MoU, valid for two years, was inked on Tuesday (26 July) in New Delhi by ONGC Director (Onshore) Anurag Sharma and Greenko CEO and MD Anil Kumar Chalamalasetty, in the presence of Union Minister of Petroleum and Natural Gas and Housing and Urban Affairs Hardeep Singh Puri.
Greenko is one of India’s leading renewable energy companies.
According to a Petroleum Ministry release, this MoU is in line with the National Hydrogen Mission launched by Prime Minister Narendra Modi in making India a global green hydrogen hub.
The activities envisaged under this MoU will contribute towards India’s target of producing of 5 million tonnes of Green hydrogen per annum by 2030, the ministry said.
This MoU will also act as a stepping stone for ONGC to achieve renewable energy targets as per its Energy Strategy 2040.
As the share of renewables in the energy mix is rising driven by cost competitiveness, climate change awareness and strong regulatory push, ONGC aims to meet its objectives such as de-risking of portfolio against long term disruptions and reducing carbon footprint by moving into renewables space, the ministry said.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.