29 °C Singapore, SG
October 5, 2022
Latest News
US to boost floating wind power Wind Power in South Korea – an overview GS E&C to develop bioethanol using cassava waste Korean business group has asked the US to make exceptions for Korean EV’s in Inflation Reduction Act Equinor’s Australian offshore wind debut Global energy transition stalls – 2022 Global Status Report in pictures India’s ReNew Power secures $1bn loan for gigascale 24/7 wind-solar-battery project POSCO International to merge with POSCO Energy Is the answer to Australia’s high electricity prices blowing in the wind? The Arctic has warmed ‘nearly four times faster’ than the global average Customer-centric demand response a key solution for Japan’s energy transition challenges Asia-Pacific forecast to reach 1 billion smart electricity meters by 2026 – study Polestar CEO Wants to Build O2 Electric Roadster Joanne Khew shifts from Standard Chartered Bank to ESG role at Eastspring Investments HCM City eyes advanced waste-management technologies Transitions to efficient LED lighting can mitigate the energy crisis New biobattery: using bacterial interactions to generate power European passenger plugin car market is still expanding Air Canada takes off with sustainable aviation fuel from San Francisco BrightNight expands into Australia GE Awarded 9HA Gas Turbine Order to Deliver Approximately 2 Gigawatts of Electricity in Guangdong, China Taking Action: Energy-Related Climate Change Mitigation Policies in ASEAN Meralco floats a tender of 850 MW renewable energy capacity Genex starts construction at flagship pumped hydro storage project GM bets on fuel-cell as battery shortcomings hamper clean energy transition Masdar and Cosmo Energy to explore renewable initiatives in Japan El Salvador Eyes Major Renewables Push Under New Partnership with IRENA Iberdrola eyes 3.5GW offshore wind in Philippines BP and Maersk successfully carry out marine biofuel trials The Korean way towards green growth

Indian energy giants to form renewables JV

Oil and Natural Gas Corporation (ONGC) signed a memorandum of understanding with utility National Thermal Power Corporation (NTPC) this week for a new joint venture that would develop renewable energy.

The partners would also explore opportunities in sustainability, storage, e-mobility and other ESG-compliant (environmental, social and governance) projects, according to the agreement.

Both companies aim to increase their renewables portfolios in the long-term, but fossil fuels will still feature heavily, according to their respective energy plans.

ONGC currently has stakes in 176MW of renewables, including 153MW of wind and 23MW of solar. It aims to reach 5-10GW of renewables by 2040, with a focus on offshore wind, through its Energy Strategy 2040.

The blueprint also envisages the company doubling its oil and gas production between 2019 and 2040.

Meanwhile, NTPC has an operational renewables portfolio of 920MW; mostly solar PV (870MW) with some wind (50MW), plus about 2.3GW of projects under construction.

Source

Leave a Reply

Your email address will not be published.