The ONGC has allotted Rs 500 crore to evaluate opportunities in renewable
energy.
The company is planning to branch out from oil and gas. It has identified
pilot projects in the solar and nuclear energy sphere. It has created a team at
Baroda in Gujarat to undertake the nuclear energy pilot project which is
expected to begin by end-December 2009.
According to sources, the company's plans for a nuclear power plant depend on
the success of the pilot project.
ONGC has a tie-up for uranium exploration under an agreement with the Uranium
Corporation of India, the only entity allowed to undertake uranium mining in
India, with the power to allot mining leases to others, such as ONGC.
Also See:
Government nod may allow ONGC to auction marginal fields (04-Nov-09)