NTPC Ltd on Tuesday said it has signed a non-binding agreement with Numaligarh Refinery Ltd. to explore partnership opportunities for green chemical projects.
While NTPC Ltd is an entity under the Ministry of Power, Numaligarh Refinery Limited (NRL) is a subsidiary of Oil India Ltd, engaged in the business of refining and marketing petroleum products.
"NTPC and NRL to build a strategic partnership for green chemicals and green projects. NTPC signed a non-binding MoU with NRL for partnership opportunities in the proposed bamboo-based bio-refinery at NTPC Bongaigaon and other green projects," the statement said.
The two CPSEs, through this MoU, intend to enhance their footprint in green chemicals and foray into sustainable solutions to advance the efforts towards achieving the nation's Net-Zero targets and be partners in the development of the northeast region, it said.
NTPC is committed to achieving 60 GW of renewable energy capacity by 2032 and being a major player in the green hydrogen and energy storage domain.
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