ONGC to make green hydrogen; inks MoU with renewable energy company Greenko ZeroC
New Delhi, July 26, 2022
Public sector energy major Oil and Natural Gas Corporation Limited (ONGC) signed a memorandum of understanding (MoU) with Greenko ZeroC Private Limited (Greenko) to jointly pursue opportunities in renewables, green hydrogen, green ammonia and other derivatives of green hydrogen here today.
The MoU, valid for two years, was inked 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 Hardeep Singh Puri, Secretary (MoP&NG) Pankaj Jain, ONGC CMD Alka Mittal and ONGC Director (Finance) Pomila Jaspal.
Greenko is one of India’s leading renewable energy companies, a press release from ONGC said.
This MoU is in line with the National Hydrogen Mission launched by Hon’ble 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.
The MoU will also act as a stepping stone for ONGC to achieve renewable energy targets as per its Energy Strategy 2040, the release said.
"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," the release added.