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ONGC plans to set up offshore wind energy projects
Subhash Kumar, Chairman of Oil and Natural Gas Corporation (ONGC), told the media that ONGC is looking to generate electricity from wind at its vast offshore land to expand its renewable energy portfolio.
The company owns its oil and gas fields in the Arabian Sea and Bay of Bengal. The shallow and deep-sea fields are now operating to trap and set up wind turbines to generate electricity, which can be transmitted to land.
According to a report, a pilot project (PP) in the offshore wind had been commissioned for assessing the opportunities in wind power, Kumar said In 2020, ONGC and National Thermal Power Corporation (NTPC) signed a Memorandum of Understanding (MoU) to set up offshore wind projects along the 7,600 km coastline.
Offshore wind turbines are almost twice efficient than onshore wind turbines. The cost per MW of offshore wind turbines is higher than onshore wind turbines due to their strong infrastructure and foundation required in the marine surrounding.
The government has planned to set up 5 GW offshore wind installations by 2022 and 30 GW installations by 2030.
ONGC is exploring to expand and explore its renewable energy in India and foreign, Kumar said.
The company has added 6 MW solar capacity, increasing its total ca[acity to 30 MW. Its total installed capacity in renewables has increased to 325 MW and targets to install 10 GW renewable energy capacity by 2030, Kumar said. It is a part of the company's Energy Strategy 2040.
He said that ONGC has taken up India's first geothermal energy project in Ladakh.
The company will now focus on climatic aspects of its operations to remain relevant in the future of the energy ecosystem.
The company's oil and gas production decreased to 45.35 million tonnes (mt) of oil and oil equivalent gas in FY21 from 48.25 mt of oil and oil equivalent gas in the last FY. ONGC is still positive towards the output in FY22 as the threat in the first half of 2020 has decreased a bit, and the company is readjusted to begin new operations, he said.
In 2024 the domestic production is expected to increase to 60 mt of oil and oil equivalent gas by the KG deepwater fields in the eastern offshore and Heera in the shallow water of the western offshore.
Also read: Turbine validation underway at Galloper Offshore Wind Farm
Also read: NTPC, ONGC to scale-up offshore wind energy development
