A Memorandum of Understanding (MoU) was signed between Hindustan Petroleum Corporation (HPCL) and NTPC Green Energy (NGEL) to accelerate India’s Nationally Determined Contribution (NDC), realise green energy objectives, and maximise contribution to the GOI’s efforts towards a carbon neutral economy.
The Memorandum of Understanding (MOU) envisions cooperation and collaboration in the fields of Renewable Energy (RE), Energy Storage Projects, RTC Power, Electric Mobility, Solar/Wind Value Chain, and meeting HPCL’s Green Power Requirements by leveraging each other’s expertise.
The MoU is part of HPCL’s strategy to rapidly expand into the renewable energy domain in order to capitalise on business opportunities in the RE sector and to meet the company’s internal needs for round-the-clock green power for its refineries, locations, retail outlets, and EV charging stations.