IndianOil NTPC Green Energy Pvt Ltd (INGEL), a joint venture company of NGEL and Indian Oil has signed a Power Purchase Agreement with Indian Oil on 22nd July 2024, to supply 650 MW RE RTC power. The RE RTC project will consist of 800 MW solar, 1000 MW wind, and 1200 MWh ESS which will help to achieve NTPC’s ambitious target of 60 GW RE capacity addition by 2032. This project shall be used to meet the captive use of Indian Oil.

The PPA has been signed by Shri V V Sivakumar, CEO (INGEL), and Shri S N Jha, CGM (M&I), Indian Oil in the presence of Shri Soumya Kanti Chaudhary, CGM (NREL), Shri S P Singh ED (M&I) Indian Oil, Shri Subrata Chaudhuri, ED (Finance), Indian Oil and other senior officials of INGEL, NGEL and Indian Oil.