ONGC eyes to gain 10 GW renewable energy portfolio by 2030
By MYBRANDBOOK
The state-run oil exploration ONGC plans to invest $1 trillion and increase its portfolio of renewable energy to 10 GW by 2030. The business is concentrating on partnerships in renewable energy, green hydrogen, and green ammonia to support India's carbon reduction goals. By 2038, ONGC also hopes to attain net-zero emissions and lessen its carbon footprint.
The company stated, “ONGC is in an advanced stage of crafting collaborations with leading players in the energy space on various low-carbon energy opportunities including renewables, green hydrogen, green ammonia and other derivatives of green hydrogen.”
The company currently has 189 megawatts of electricity generation capacity from renewables and its new target of 10 GW capacity by 2030 could prove to be an ambitious one. The company’s Chief Executive Arun Kumar Singh recently said that the company is aiming to achieve net-zero carbon emissions by 2038, on the back of multiple low-carbon projects.
ONGC also aims to set up a 1 million tonnes per annum green ammonia plant at Mangalore. It is also ramping up its focus “on research and development in carbon capture, utilization, and storage (CCUS) technologies to mitigate emissions from existing processes”.
The company has aligned itself with India's ambitious goals to “curtail carbon emissions by 1 billion tonnes and simultaneously reduce carbon intensity by 45% by 2030”.
However, ONGC reiterated that oil and gas exploration and production “will remain the cornerstone of its energy business. Extensive exploration in known basins as well as frontier plays, sustained production from existing fields and exploitation of deep-water fields remains the central areas of emphasis.”
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Paytm brings UPI Lite Wallet for low-value transactions
Paytm’s parent company One97 Communications (OCL) is emphasizing upon UP...
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
HAVELLS INDIA LTD.
VVDN TECHNOLOGIES
FINOLEX INDUSTRIES LTD.
ATRIE TECHNOLOGY PVT. LTD.
Technology Icons Of India 2023: Madhabi Puri Buch
Madhabi Puri Buch is the chairperson of the securities regulatory body...
Technology Icons Of India 2023: Ritesh Agarwal
Ritesh Agarwal Founder & CEO of OYO Hotels & Homes-World’s fastest g...
Technology Icons Of India 2023: Debjani Ghosh
Debjani Ghosh is the first woman president of NASSCOM (the umbrella bo...
BBNL empowering rural India digitally
BBNL provide high speed digital connectivity to Rural India at afforda...
CSCs enabling rural India digitally empowered
Common service centres (CSCs) are digital access points under the Digi...
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
SUPERTRON ELECTRONICS PVT. LTD.
Supertron deals in servers, laptops, components, accessories and is a...
BEETEL TELETECH LTD.
: Beetel is one of the oldest and most reputed brands in the Industry,...
WPG C&C COMPUTERS & PERIPHERALS PVT. LTD.
WPG C&C Computers & Peripherals (India) was incorporated in 2008 and ...