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NTPC and Oil India join hands for Renewable Energy and Decarbonization

Oil India

NTPC, India’s largest integrated power utility corporation, and Oil India Limited, the country’s second-largest national oil and gas firm, have teamed forces to promote renewable energy. NTPC Limited, India’s largest power production business, and Oil India Limited have signed a Memorandum of Understanding to investigate partnership in renewable energy, green hydrogen and its derivatives, and decarbonization activities, including geothermal energy. 

The Memorandum of Understanding was signed on August 31st in New Delhi in the presence of NTPC CMD Gurdeep Singh, OIL CMD Dr. Ranjit Rath, and their functional directors. The MoU is also planned to encourage knowledge and experience sharing on emerging decarbonization technologies such as carbon sequestration. 

The two Maharatna behemoths want to expand their footprint in the field of renewable energy and venture into sustainable solutions in order to meet the nation’s goal of reaching Net Zero by 2070. 

With a total installed capacity of 73,024 MW, NTPC has a presence throughout the power sector value chain. NTPC has pledged to build 60 GW of renewable energy capacity by 2032. It aspires to be a prominent player in the field of Green Hydrogen Technology and Energy Storage. The corporation is pursuing many decarbonization initiatives, including hydrogen blending, carbon capture and storage, and fuel cell buses, among others. 

Oil India

At 11,562 feet, the first-of-its-kind Green Hydrogen Mobility Project is co-located with a dedicated Solar plant of 1.7 MW for renewable power. The fuel cell buses in this project are designed to operate in sub-zero temperatures in rarefied atmospheres, which is typical of high altitude locales. 

In an unprecedented move in India, state-owned power provider NTPC began testing intracity Hydrogen Buses in Leh in August of this year. NTPC (previously National Thermal Power Corporation) is establishing a hydrogen fuelling station, a solar plant, and five fuel cell buses for use on Leh’s intracity routes in order to make Ladakh carbon-neutral. 

In June of this year, NTPC Limited climbed 52 places to 433rd on Forbes’ ‘The Global 2000’ List for 2023. Rising from 485th on the list in 2022, NTPC’s 52-position gain in just one year indicates the company’s rise as a major player in the worldwide industry. 

The ‘Global 2000’ List ranks the world’s top corporations according to four key metrics: sales, profits, assets, and market value. NTPC has risen one position among the national corporations to clinch the tenth position among the largest Indian companies in the 2023 List. This result reinforces NTPC’s position as a market leader in India’s corporate sector. 

Oil India Limited is a state-owned oil firm that explores for, develops, and produces crude oil and natural gas. Oil India Ltd is a subsidiary of the Ministry of Petroleum and Natural Gas and has developed as a major participant in the oil and gas industry. 

Oil India Ltd (OIL) was upgraded to the rank of ‘Maharatna’ Central Public Sector Enterprises (CPSE) by the Finance Ministry in August of this year. With this permission, the state-owned enterprise became the 13th Maharatna CPSE in the country’s public sector. 

At this year’s India Energy Week in Bengaluru, Prime Minister Narendra Modi launched off Oil India Limited’s indigenously built hydrogen fuel cell-based e-bus. Under the National Hydrogen Mission and the Atmanirbhar Bharat vision of the Government of India, OIL created this hydrogen fuel cell-based bus in-house through its Startup program (SNEH). 

The bus is a hybrid of an electric drive and a fuel cell. The fuel cell uses hydrogen to generate electricity, which powers the electric motor and also charges the auxiliary battery, which provides backup power during acceleration and braking. To generate energy, the 60 KW capacity fuel cell employs Proton Exchange Membrane (PEM) technology. The tank capacity of the bus is 21.9 kg at 350 bar pressure.