Indian Oil invests Rs 16.60 bn in NTPC JV for power plants
POWER & RENEWABLE ENERGY

Indian Oil invests Rs 16.60 bn in NTPC JV for power plants

Indian Oil Corporation, the largest oil company in the nation, has announced plans to invest Rs 16.60 billion as equity in a newly established joint venture with energy giant NTPC.

The purpose of this joint venture is to establish renewable power plants. In June, IOC and NTPC collaborated to form a 50:50 joint venture company named IndianOil NTPC Green Energy.

This collaboration aimed to develop renewable energy projects that could meet the continuous power demands of IOC's refineries. IOC revealed that during a meeting held on October 13, their board approved the investment plan for the joint venture company.

The board also gave the green light for an equity contribution of up to Rs 16.60 billion, representing Indian Oil's 50% share in the equity share capital of the joint venture. On June 2, IOC officially established the joint venture company, IndianOil NTPC Green Energy, in partnership with NTPC Green Energy, a wholly-owned subsidiary of NTPC.

The primary objective of this newly formed company is to develop renewable energy-based power projects, including solar PV, wind, and other forms of renewable energy, along with energy storage solutions.

These projects are intended to meet the round-the-clock power requirements of new ventures undertaken by Indian Oil Refineries. The ultimate goal of this collaboration is to generate a minimum capacity of 650 MW of round-the-clock renewable power.

This capacity is crucial in ensuring that the energy needs of IOC's refineries are met consistently, marking a significant step towards sustainable and eco-friendly energy solutions.

Indian Oil Corporation, the largest oil company in the nation, has announced plans to invest Rs 16.60 billion as equity in a newly established joint venture with energy giant NTPC. The purpose of this joint venture is to establish renewable power plants. In June, IOC and NTPC collaborated to form a 50:50 joint venture company named IndianOil NTPC Green Energy. This collaboration aimed to develop renewable energy projects that could meet the continuous power demands of IOC's refineries. IOC revealed that during a meeting held on October 13, their board approved the investment plan for the joint venture company. The board also gave the green light for an equity contribution of up to Rs 16.60 billion, representing Indian Oil's 50% share in the equity share capital of the joint venture. On June 2, IOC officially established the joint venture company, IndianOil NTPC Green Energy, in partnership with NTPC Green Energy, a wholly-owned subsidiary of NTPC. The primary objective of this newly formed company is to develop renewable energy-based power projects, including solar PV, wind, and other forms of renewable energy, along with energy storage solutions. These projects are intended to meet the round-the-clock power requirements of new ventures undertaken by Indian Oil Refineries. The ultimate goal of this collaboration is to generate a minimum capacity of 650 MW of round-the-clock renewable power. This capacity is crucial in ensuring that the energy needs of IOC's refineries are met consistently, marking a significant step towards sustainable and eco-friendly energy solutions.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement