By: ICN Bureau
Last updated : November 19, 2024 10:19 am
ONGPL will be engaged in the business of exploring and setting up renewable energy projects and assets both through greenfield development and acquisitions
ONGC has formed ONGC NTPC Green Private Limited (ONGPL), a Joint Venture Company (JVC) with NTPC Green Energy Limited (NGEL) for offshore wind energy & other renewable energy business.
ONGPL has been incorporated on November 18, 2024 as 50:50 joint venture of ONGC Green Limited (OGL), a wholly-owned subsidiary of the company, and NGEL, a wholly-owned subsidiary of NTPC Limited.
ONGPL will be engaged in the business of exploring and setting up renewable energy (RE) projects and assets both through greenfield development and acquisitions. ONGPL will also assess the feasibility and establishment of offshore wind projects, among other related activities.
ONGC Green Limited has subscribed 50,000 equity shares at the face value of Rs. 10 each.