Correct Answer : Option (C) - Oil and Natural Gas Corporation (ONGC)
Oil and Natural Gas Corporation (ONGC) has signed(27th July 2022) a Memorandum of Understanding (MoU) with renewable energy company "Greenko ZeroC" to make green hydrogen, and to jointly pursue opportunities in renewables, and other derivatives of green hydrogen.
This MoU is in line with the government’s National Hydrogen Mission that aims to transform the country into a global green hydrogen hub, the company said. India is targeting to produce 5 million tonnes of green hydrogen per annum by 2030.
The energy major said that this MoU will contribute towards the mission of making Indi a green hydrogen hub.
The MoU, valid for two years, was signed between ONGC Director Onshore Anirag Sharma and Greenko CEO and Managing Director Anil Kumar Chalamalasetty, in the presence of Union Minister of Petroleum and Natural Gas & Urban Affairs Hardeep Singh Puri.
ONGC is not the first government-backed entity to enter the green hydrogen sector. In April this year, state-backed oil manufacturing company Indian Oil Corporation (IOC
), engineering and construction conglomerate L&T and renewable energy company ReNew announced the signing of a term sheet to form a joint venture company to develop green hydrogen business in India..Source : Business Today
Published On : July 28, 2022
Category : Business and Economics