In a landmark move towards sustainable energy, ONGC has signed a Memorandum of Understanding (MoU) with PowerGrid Corporation to collaborate on green hydrogen and clean energy projects. The MoU was signed on 12 December 2024 in New Delhi by Chief JV&BD (Downstream, Petrochemical and New Energy), ONGC, S.K. Dwivedi and CGM of PowerGrid Sunil Kumar Gupta. The ceremony was graced by Director (Strategy & Corporate Affairs), ONGC, Arunangshu Sarkar and Director (Personnel), PowerGrid, Dr. Yatindra Dwivedi, along with senior executives from both organizations.

This partnership underscores the commitment of both companies to drive sustainable energy growth and support India's climate goals by reducing dependence on fossil fuels and promoting a low-carbon economy. The collaboration aligns with the National Green Hydrogen Mission (NGHM) program which aims to position India as a global leader in green hydrogen production, use, and export.

Key objectives of the MoU:

• Identify commercial opportunities in the green hydrogen value chain, including production, storage, and applications.
• Jointly develop green hydrogen and its derivatives projects.
• Collaboration in various clean energy opportunities

Director (Strategy & Corp. Affairs), ONGC, Arunanghshu Sarkar stated, "This MoU marks a significant step towards a cleaner energy future. We look forward to working with PowerGrid Corporation to make green hydrogen a viable alternative."

Director (Personnel) of PowerGrid Dr. Yatindra Dwivedi added, "We are excited to partner with ONGC. Together, we will accelerate India's transition to a low-carbon economy."

Chief (JV&BD), ONGC, Satish Kumar Dwivedi emphasized the drive towards sustainability and decarbonization and briefed about ONGC’s various initiatives towards energy transition and business diversification in line with  ONGC's Energy Strategy and Net zero commitment.

ONGC's Energy Strategy 2040 outlines ambitious renewable energy targets, including achieving a renewable energy capacity of 10 GW by 2030 and reaching net-zero carbon emissions for scope 1 and 2 by 2038. This collaboration with PowerGrid is a significant milestone in ONGC's pursuit of these goals, as it diversifies into various renewable energy sectors such as solar, wind, green hydrogen, and geothermal.

As India continues to grow and develop, partnerships like this will play a crucial role in shaping the country's energy future, ensuring a sustainable and prosperous path forward.