NTPC Green Energy Ltd inks pact with Indian Oil Corporation Limited

NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, signed a Joint Venture Agreement on 20th March,2023 with Indian Oil Corporation Limited (IOCL) for setting up of renewable energy projects to meet Round the Clock power requirement of IOCL Refineries.

The JV Agreement was signed in the august presence of Mr. Gurdeep Singh, CMD, NTPC Limited, Mr. Shrikant Madhav Vaidya, Chairman, IOCL, Mr. D. K. Patel, Director (HR), NTPC Limited, Mr. U.K. Bhattacharya, Director (Projects), NTPC Limited, Mr. Jaikumar Srinivasan, Director (Finance), NTPC Limited, Ms. Sukla Mistry, Director (R), IOCL and along with other senior officials from NGEL, NTPC REL, and IOCL.

NTPC Limited, through its wholly owned subsidiary, NGEL, has set an ambitious target of building a renewable generation portfolio of 60 GW over the next decade to aggressively pursue its green energy business.

The signing of this Joint Venture Agreement between the two Maharatna behemoths will enable NTPC Limited and Indian Oil to meet the Government of India's Clean Energy Targets in their respective core businesses.

The Joint Venture Agreement was signed by Mr. Kausik Basu, ED (M&I), IOCL and Mr. V. V. Sivakumar, GM, NGEL at NTPC Corporate Centre, SCOPE Complex, New Delhi.

Shares of NTPC Limited was last trading in BSE at Rs. 175.90 as compared to the previous close of Rs. 177.35. The total number of shares traded during the day was 257303 in over 5074 trades.

The stock hit an intraday high of Rs. 177.55 and intraday low of 175.00. The net turnover during the day was Rs. 45278309.00.

Source : Equity Bulls

Keywords

NTPC INE733E01010 NTPCGreenEnergy IndianOilCorporation JVAgreement RenewableEnergy Projects IOCLRefineries