NGEL & ITL signed MoU to develop Renewable Energy Projects

Current Context: NTPC Green Energy Limited (NGEL) and Indus Towers Limited (ITL) have indeed signed a Memorandum of Understanding (MoU) to develop Renewable Energy Projects on 18th April 2024 in Mumbai.

• Here are some key details:
• The MoU was signed by Soumya Kanti Chowdhuri, Chief General Manager of NGEL, and Vikas Poddar, Chief Financial Officer (CFO) of ITL.
• The MoU aims to address the need for pacing green energy objectives and is aligned with the Government of India’s efforts towards a carbon-neutral economy.
• The collaboration will explore joint development of grid-connected renewable energy-based power projects, including solar, wind, and energy storage.
• Indus Towers plans to expand its renewable energy portfolio in a phased manner to GigaWatt scale capacity for its business operations spread across the country, as part of its net zero commitments.
• This partnership is a significant step towards promoting renewable energy and achieving a carbon-neutral economy.

Question:

Q.1 What is the main aim of the MoU signed between NGEL (NTPC Green Energy Limited) and ITL (Indus Towers Limited)?
a. To develop non-renewable energy projects
b. To address the need for pacing green energy objectives
c. To reduce the operations of ITL
d. None of the above