ONGC intends to build 1 GW solar power plant in Rajasthan

Oil and Natural Gas Corp (ONGC) plans to build a 1 GW solar power plant in Rajasthan as a key step toward establishing a foothold in the green energy space. The company has approached the state government to request 5,000 acre of land for its proposed 1 GW project. The project may require a Rs 500 billion investment and will take about three years to complete after land is allotted. The proposed plant will help meet the company's internal electricity demand while also allowing it to sell power on the market. ONGC barely has a presence in the renewable energy space today, with only 153 MW of wind and 31 MW of solar generation capacity. However, it has now begun to act on its green goals by focusing on specific projects and partnering with power companies. Also read: Reliance’s MJ gas condensate field to begin output this year IOC in talks with Tellurian of US for long-term LNG deal