NGEL, OGL incorporate JV company to work in RE sector

New Delhi: ONGC NTPC Green Private Ltd (ONGPL) has been incorporated as a 50:50 joint venture company of NTPC Green Energy Limited and ONGC Green Limited.

While NTPC Green Energy Limited (NGEL) is a wholly-owned subsidiary of power giant NTPC, ONGC Green Limited (OGL) is a subsidiary of oil major Oil and Natural Gas Corporation Limited (ONGC).

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ONGPL has been incorporated as a 50:50 JV company of NGEL and OGL, NTPC said in an exchange filing on Monday.

The JV has been formed to explore and set up renewable energy (RE) projects/ assets in India and overseas through greenfield development and acquisitions.

The newly formed entity will also explore the feasibility and setting up of offshore wind projects in India.

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