ONGC to make Green Hydrogen; inks MoU with Greenko Zero C

Oil and Natural Gas Corporation Limited (ONGC) inked a Memorandum of Understanding (MoU) with Greenko ZeroC Private Limited (Greenko) to seek prospects in renewable energy sector, green hydrogen, green ammonia, and other green hydrogen derivatives. The MoU, valid for two years, was signed in New Delhi by ONGC Director Onshore Anurag Sharma and Greenko CEO Anil Kumar Chalamalasetty, in the presence of Union Ministers of Petroleum and Natural Gas, Hardeep Singh Puri. Pankaj Jain, Secretary (MoP&NG), Dr. Alka Mittal, ONGC Directors, and other top officials from, ONGC, and Greenko were also present. Greenko is a leading renewable energy company in India.

This MoU is in keeping with the Hon'ble Prime Minister's National Hydrogen Mission, which aims to make India a global green hydrogen powerhouse. The activities contemplated in this MoU will help India meet its aim of producing 5 million tonnes of green hydrogen per year by 2030.

This MoU will also help ONGC meet its renewable energy targets outlined in its Energy Strategy 2040. As the amount of renewable options in the energy mix rises due to cost competitiveness, climate change awareness, and a strong legislative push, ONGC intends to fulfil its objectives such as portfolio de-risking and carbon footprint reduction by entering into the renewable area.