ONGC’s Hazira plant
Picture: ONGC
From pv journal India
ONGC, India’s largest crude oil and pure gasoline firm, goals to succeed in 10 GW of renewable power capability by 2030 with a capital expenditure of $12.18 billion. It has 348 MW of put in renewable capability as of Might 30, 2022, and is focusing on 5 GW by 2025.
The corporate mentioned it sees favorable authorities insurance policies and viability hole funding for offshore wind as key enablers of the power transition. It has already signed a memorandum of understanding with the Indian state authorities of Rajasthan to construct 5 GW of renewable power tasks. To attain its aim, ONGC has partnered with Norway’s Equinor and Indian developer Greenko.
Underneath the settlement with Equinor, the 2 sides will collaborate on renewable, low-carbon gasoline, carbon seize storage (CCS), and carbon seize utilization and sequestration (CCUS) alternatives in India. ONGC and Greenko, then again, plan to collectively discover alternatives in renewables, inexperienced hydrogen, and its derivatives, together with inexperienced ammonia.
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