NTPC inks pact to partner Numaligarh Refinery in green projects

  • IANS
  • Stock Market News
NTPC inks pact to partner Numaligarh Refinery in green projects
Credit: © Reuters.

New Delhi, Jan 31 (IANS) Government-owned power giant NTPC (NS: NTPC ) Ltd has signed an MoU with Numaligarh Refinery Ltd (NRL), for partnership opportunities in the proposed bamboo-based bio-refinery at NTPC Bongaigaon and other green projects. NRL is a subsidiary of Oil India (NS: OILI ) Ltd, engaged in the business of refining and marketing of petroleum products.

Through this MoU, the two Central public sector enterprises intend to enhance their footprint in green chemicals and foray into sustainable solutions to advance the efforts towards achieving the nation’s Net-Zero targets and be partners in the development of the North Eastern region.

The MoU was signed on Tuesday in the presence of NTPC Chairman Gurdeep Singh, OIL Chairman Ranjit Rath, and NRL Managing Director Bhaskar Jyoti Phukan.

NTPC said it is committed to achieve 60 GW of renewable energy capacity by 2032 and be a major player in green hydrogen and energy storage domain. The company is taking up several initiatives towards decarbonisation such as green hydrogen, biofuels, carbon capture, and hydrogen mobility.

--IANS

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