Indian Oil approves Rs 16.6 billion investment in NGEL

The Indian Oil Corporation Limited Board has approved Rs 16.6 billion investment, securing a 50 per cent stake in the joint venture with NTPC Green Energy Limited for development of renewable power plants. NGEL will set up clean energy-based power projects, including solar PV and wind, in order to fulfill the round-the-clock power demands of Indian Oil refinery’s upcoming projects.