ONGC to make Green Hydrogen; inks MoU with India’s leading renewable energy Company Greenko Zero C
Energy major
Oil and Natural Gas Corporation Limited (ONGC) today signed a Memorandum of
Understanding (MoU) with M/s 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 in New
Delhi by ONGC Director Onshore Anurag Sharma and Greenko CEO & Managing
Director Anil Kumar Chalamalasetty, in the presence of Union Minister of
Petroleum and Natural Gas & Housing and Urban Affairs Hardeep Singh Puri.
Secretary (MoP&NG) Pankaj Jain, ONGC CMD Dr Alka Mittal along with ONGC
Directors, other senior officials from MoP&NG , ONGC and Greenko were also
present. Greenko is one of India’s leading renewable energy Companies.
This MoU is in line with the National Hydrogen Mission
launched by the Prime Minister 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.
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.