India's Energy Giants Embrace Green Transition with Ambitious Renewable Energy Plans
Key Ideas
  • India increases its green energy target to 900 GW by 2032, prompting leading public sector energy companies like ONGC, NTPC, GAIL, and oil marketing companies like IOC, BPCL, and HPCL to ramp up their renewable energy capacity.
  • ONGC and NTPC are making significant investments in expanding their green energy portfolios, with ONGC aiming for 10 GW by 2030 and NTPC targeting 60 GW by 2032, including ventures into green hydrogen and other renewable energy forms.
  • NGEL and NREDCAP collaborate to establish India's first Green Hydrogen Hub in Andhra Pradesh, with plans for 20 GW of RE projects and integrated green hydrogen production facilities, attracting substantial investments and creating a comprehensive energy ecosystem.
  • State-owned oil and gas companies like HPCL, GAIL, and Oil India Limited are also aggressively pursuing renewable energy projects, showcasing a collective effort towards a sustainable and diversified energy landscape in India.
India has raised its green energy target to 900 gigawatts (GW) by 2032, encouraging leading public sector energy companies like ONGC, NTPC, GAIL, and oil marketing companies such as IOC, BPCL, and HPCL to accelerate their transition towards renewable energy sources. ONGC, through investments amounting to Rs 3,500 crore, is focusing on expanding its green energy capacity aiming for 10 GW by 2030. NTPC's green energy subsidiary, NTPC Green Energy (NGEL), is working towards a renewable portfolio of 60 GW by 2032, with a strong emphasis on green hydrogen, battery storage, and other renewable forms. NGEL and NREDCAP are collaborating to establish India's first Green Hydrogen Hub in Andhra Pradesh, which will house 20 GW of renewable energy projects and cutting-edge green hydrogen production facilities. Additionally, state-owned oil refiner IOC, BPCL, and HPCL are all investing heavily in renewable energy projects, with plans to reach significant capacities by 2030. GAIL has commissioned its first green hydrogen facility and is partnering with AM Green for renewable energy and green chemical projects. Furthermore, Oil India Limited and Coal India are also venturing into the renewable energy space, forming subsidiaries and partnerships to bolster their green energy portfolios. This collective effort by India's energy giants signifies a positive shift towards sustainability and fuel diversity in the country's energy sector.
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