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NTPC ties up with IndianOil to form JV company

Published on July 19, 2022
Current Context: NTPC Green Energy Ltd(NGEL), a wholly owned subsidiary of NTPC will form a Joint venture (JV) company to supply RE-RTC power to IndianOil.
NTPC ties up with IndianOil to form JV company
  • NTPC (National Thermal Power Corporation Ltd) and IndianOil signed an agreement for the formation of a JV company for meeting the power requirements of IndiaOil refineries.
  • IndianOil plans to meet the additional power requirements of its refineries using renewable energy (to the tune of 650MV) by December 2024 through this JV.
  • NGEL will be an umbrella company for consolidating NTPC's total renewable energy business.
  • IndianOil Chairman Shrikant Madhav Vaidya said, " It is indeed a powerful statement, as two fossil fuel giants of the country - IndianOil and NTPC join hands for changing their path towards green energy".
  • Static Knowledge:
    • NTPC Chairman- Gurpreet Singh
    • NTPC headquarters- New Delhi
    • NTPC was formed - on 7 November 1975
    • IndianOil chairman - Shrikant Madhav Vaidya
    • IndianOil headquarters - New Delhi
    • IndianOil Corporation was formed - on 30 June 1959

Question:

Q.1 NTPC ties up with which fossil fuel giant to form a JV company to supply RE-RTC Power?
a. IndianOil
b. BPCL
c. HPCL
d. ONGG
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