State-owned Bharat Heavy Electricals Ltd (BHEL) on Friday (January 10) said it has entered into a strategic Memorandum of Understanding (MoU) with Oil & Natural Gas Corporation Ltd (ONGC) to jointly explore projects in the New and Renewable Energy (NRE) sector.

“Bharat Heavy Electricals Limited (BHEL) and Oil & Natural Gas Corporation Ltd (ONGC) have signed an MoU for exploring joint projects and collaboration in the area of New and Renewable Energy business, including Fuel Cell, Electrolyser and Battery Energy Storage System based Projects,” according to a stock exchange filing.

The collaboration will focus on areas such as fuel cells, electrolysers, and battery energy storage systems. This partnership aims to support India’s National Green Hydrogen Mission and leverage the combined expertise of both entities to drive innovations in the clean energy ecosystem.

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The MoU signing ceremony was attended by Bani Varma, Director (Industrial Systems & Products) and Director (Engineering, Research & Development) – Additional Charge, BHEL, and Arunangshu Sarkar, Director (Strategy and Corporate Affairs), ONGC, along with other senior officials from both companies.

“This collaboration marks a significant step in aligning with India’s renewable energy goals and advancing the adoption of clean energy solutions,” it added.

Shares of Bharat Heavy Electricals Ltd ended at ₹204.00, down by ₹12.40, or 5.73% on the BSE.

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