ONGC Explores Energy Storage JV with Gentari
OIL & GAS

ONGC Explores Energy Storage JV with Gentari

Oil and Natural Gas Corporation (ONGC) is engaging in talks with global entities, including Malaysia's Gentari, to establish a joint venture focusing on energy storage. This strategic move comes as ONGC advances further into its ambitious energy transition journey.

The proposed joint venture would encompass battery storage and pump storage projects, according to Arun Kumar Singh, Chairman and CEO of ONGC. Gentari, the green-energy arm of Malaysia's Petroliam Nasional Berhad (Petronas), is one of the entities involved in the discussions.

In an interview, Singh mentioned, "In energy storage, we are hoping for something big. It will be a JV (joint venture) model. We are already in talks. We have been talking to them (Gentari). There are two-three more people (global entities)."

ONGC has allocated a substantial Rs 1 trillion investment for its energy transition initiative until 2030. Should energy storage emerge as a priority area, the company might channel its entire dedicated capital expenditure toward storage, Singh stated.

Singh emphasised that energy storage is a pivotal aspect of ONGC's energy transition strategy, highlighting the significant potential in India. Given the sector's growth prospects and ONGC's robust financial foundation, the capital-intensive realm of energy storage aligns well with the company's investment objectives.

Queries sent to Gentari remain unanswered as of press time.

Singh's perspective on renewable-energy avenues underscores that energy storage, particularly the combination of battery and pump storage, stands out as a capital-intensive space. ONGC's substantial financial strength makes it uniquely positioned to delve into this area.

While ONGC aims for net-zero emissions by 2038, it currently boasts 36.52 MW of installed solar capacity and 153 MW of wind capacity. The company produced 44.42 million units and 204.8 million units of solar and wind energy, respectively, in FY23.

ONGC's focus on energy storage aligns with evolving policy frameworks, including guidelines for pumped-storage projects and funding schemes for battery energy storage systems. As ONGC pursues its green transition, energy storage technologies emerge as vital components of the journey.

Oil and Natural Gas Corporation (ONGC) is engaging in talks with global entities, including Malaysia's Gentari, to establish a joint venture focusing on energy storage. This strategic move comes as ONGC advances further into its ambitious energy transition journey.The proposed joint venture would encompass battery storage and pump storage projects, according to Arun Kumar Singh, Chairman and CEO of ONGC. Gentari, the green-energy arm of Malaysia's Petroliam Nasional Berhad (Petronas), is one of the entities involved in the discussions.In an interview, Singh mentioned, In energy storage, we are hoping for something big. It will be a JV (joint venture) model. We are already in talks. We have been talking to them (Gentari). There are two-three more people (global entities).ONGC has allocated a substantial Rs 1 trillion investment for its energy transition initiative until 2030. Should energy storage emerge as a priority area, the company might channel its entire dedicated capital expenditure toward storage, Singh stated.Singh emphasised that energy storage is a pivotal aspect of ONGC's energy transition strategy, highlighting the significant potential in India. Given the sector's growth prospects and ONGC's robust financial foundation, the capital-intensive realm of energy storage aligns well with the company's investment objectives.Queries sent to Gentari remain unanswered as of press time.Singh's perspective on renewable-energy avenues underscores that energy storage, particularly the combination of battery and pump storage, stands out as a capital-intensive space. ONGC's substantial financial strength makes it uniquely positioned to delve into this area.While ONGC aims for net-zero emissions by 2038, it currently boasts 36.52 MW of installed solar capacity and 153 MW of wind capacity. The company produced 44.42 million units and 204.8 million units of solar and wind energy, respectively, in FY23.ONGC's focus on energy storage aligns with evolving policy frameworks, including guidelines for pumped-storage projects and funding schemes for battery energy storage systems. As ONGC pursues its green transition, energy storage technologies emerge as vital components of the journey.

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?