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

16 Oct 2023 CW Team

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.

Infrastructure Energy

23 Oct 2025

GAIL to Set Up Bengaluru CBG Plant Under New Concession Pact

GAIL (India) Limited has signed a 20-year concession agreement with the Bengaluru City Municipal Corporation (BBMP) to set up a compressed biogas (CBG) plant in the city. The project, expected to produce around 10 tonnes of CBG daily, will utilise municipal solid waste as feedstock, contributing to clean energy generation and efficient waste management. The CBG produced will be used in GAIL’s City Gas Distribution network to promote cleaner fuel usage. The initiative aligns with the government’s Sustainable Alternative Towards Affordable Transportation (SATAT) scheme and GAIL’s broader ..

Uttarakhand HC Lifts 31-Year Ban on ONGC’s Contractual Hiring

The Uttarakhand High Court has lifted a 31-year-old ban on the Oil and Natural Gas Corporation (ONGC) from hiring contractual workers, a restriction imposed in 1993. The decision enables ONGC’s Dehradun establishment to employ personnel on a contractual basis to meet operational requirements. The long-standing prohibition had limited ONGC’s ability to fill vacancies in its technical and administrative departments, often leading to project delays and higher dependence on outsourcing. With the court’s directive, the public sector enterprise can now proceed with temporary recruitments whil..

JSW Energy’s Utkal Unit Bags 400 MW, 25-Year Power Supply Deal

JSW Energy Limited announced that its subsidiary, JSW Energy (Utkal) Limited, has secured a Letter of Award (LoA) from Karnataka’s Power Company of Karnataka Limited (PCKL) for the supply of 400 MW of electricity for 25 years. The agreement is part of a competitive bidding process for long-term procurement of power to meet the state’s growing energy demand. The 400 MW capacity will be supplied from JSW Energy’s upcoming thermal power project in Odisha. This development strengthens JSW Energy’s presence in the southern market and aligns with its strategy to enhance long-term contracte..