The Oil and Natural Gas Corporation (ONGC), an India-based company, has revealed its plans to build a 1 GW solar power plant in Rajasthan, India. ONGC is engaged in the exploration, development, and production of crude oil, natural gas, and value-added products.
Hitherto, the company has approached the state government regarding 5,000 acres of land in the Northern West region of India for the development of the said project. The project, the cost of which is expected to be Rs 5,000 crore will take up 20 square kilometers.
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Upon completion, the 1 GW solar power plant in Rajasthan will contribute towards establishing green energy not only in the host region but in India at large. At the end of 2021, wind and solar energy accounted for just about 20% of installed capacity within the country.
However, by the end of 2022, India aims to develop well over 175 GW of renewable capacity. 100 GW of the total capacity will be made up of solar power.
The 1 GW solar power plant in Rajasthan to boost ONGC’s presence in the renewable energy sector
As it stands, ONGC has just 153 MW of wind and 31 MW of solar generation capacity. Its presence in the renewable energy sector is therefore barely felt. However, the company has begun to act on its green goals by pushing hard on some projects for example the 1 GW solar power plant in Rajasthan.
The company is also partnering with some renewable power companies in its quest to venture into the industry. For instance, ONGC is exploring an offshore wind farm project in partnership with Norway’s Equinor. It has also struck a preliminary agreement with NTPC, the country’s largest generator, for setting up renewable power projects.
Moreover, it has tied up with Greenko to set up a green hydrogen project. Greenko is one of the largest renewable energy companies in India.
