CCUS technology to help India transition to Net-Zero Emissions
Oil and Natural Gas Corporation Ltd (ONGC) has signed a Memorandum of Understanding (MoU) with Solar Energy Corporation of India (SECI) for undertaking renewable energy projects including solar, wind, solar parks, EV value chain, green hydrogen, storage and others.
“ONGC has a multi-pronged 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,” ONGC CMD Subhash Kumar said after signing the MoU on 2 Dec 2021.
The partnership will enable ONGC to strengthen its footprint in renewables, especially solar, he added.
“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.”
“SECI is happy to associate with ONGC in this path-breaking initiative that will open new avenues of sustainable development and promises to take India to new frontiers of technology and scale,” assured SECI MD Suman Sharma.
“We are dedicated towards fulfilling India’s climate commitments and look forward to a continuing partnership.”
ONGC is a first non-American company to be a part of Global Methane Initiative (GMI). Through this program alone, ONGC could so far prevent approximately 20.48 MMSCM of methane gas leakages into the atmosphere with an environmental benefit of approximately 3 lakh tons of CO2 Equivalent.
Considering the strategic significance of Carbon Capture, Usage and Storage (CCUS) technology towards transition to Net-Zero Emissions, ONGC is partnering with Indian Oil Corporation (IOC) for setting up a CCUS project for Enhanced Oil Recovery (EOR) from depleted oil fields.
The project will utilize CO2 captured from IOC’s Koyali refinery for injecting in to the depleted reservoirs of Gandhar oil field in Gujarat.
ONGC is also considering India’s first 200-300 MW demonstration Wind offshore power project for which feasibility study is being carried out jointly with NTPC Ltd. /fiinews.com
