Ongc sees the acquisition for a 10gw renewable purpose

New Delhi: Top Indian Exploratory Oil and Natural Natural Gas are seeing the acquisition to have 10 gigawatts (GWS) of renewable energy capacity in 2040, said Chairman of Subhash Kumar.
“Renewable seems to make many businesses since today and we see the possibility of inorganic investment in renewable energy,” Kumar told analyst conferences, after the company’s June quarter income.
India has set an ambitious target to increase its renewable capacity to 450 GW by 2030 of 100 GW today to reduce dependence on thermal power plants and reduce pollution.
ONGC has signed a memorandum of understanding with the main utility of NTPC Ltd to study offshore wind settings and other renewable energy projects in India and abroad.
Kumar said his company was looking for foreign partners to explore new areas, including oil blocks and deepwater gas on the east coast to monetize backup quickly.