NTPC and IndianOil have signed an agreement to form a JV company for meeting the power requirements of upcoming projects of the latter’s refineries. IndianOil plans to meet the additional power requirement of its refineries using round-the-clock renewable energy to the tune of 650 MW by December 2024 through this JV, as per reports. The state-run corporations have teamed up to set up renewable energy-based power plants for IndianOil Refineries. NTPC Green Energy (NGEL), a wholly owned subsidiary of NTPC, will form the JV Company for the supply of RE-RTC power to IndianOil. NGEL will be an umbrella company for consolidating NTPC’s total renewable energy businesses. Contact: IndianOil Website: iocl.com