New Delhi: In a bid to strengthen its footprint in the renewable space, particularly solar energy, state-owned Oil and Natural Gas Corporation (ONGC) on Thursday signed an agreement with Solar Energy Corporation of India (SECI) to scale up its clean energy projects.
The Memorandum of Understanding (MoU) was signed by ONGC Chairman and Managing Director Subhash Kumar and SECI Managing Director Suman Sharma, a company statement said.
"The MoU provides a broad, overarching framework for ONGC and SECI to collaborate and cooperate for undertaking renewable energy projects including solar, wind, solar parks, EV value chain, green hydrogen, storage, etc," it said.
The partnership will enable ONGC to strengthen its footprint in renewables, especially solar.
Speaking on the occasion, Kumar said: "While we appreciate the magnitude and urgency of the climate change challenge, we also understand our commitment towards energy security of the country and are committed to carrying out our business in a sustainable manner."
"ONGC has a multipronged strategy to make its green energy portfolio richer and has plans to progressively move towards carbon neutrality by effective carbon management and adding renewable energy capacity," he said.
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