Ladakh set to host India’s first geothermal power plant in Puga Valley
With this move, the remote Puga Valley, located at an altitude of over 14,000 feet, is poised to become the cradle of India’s geothermal energy revolution.
With this move, the remote Puga Valley, located at an altitude of over 14,000 feet, is poised to become the cradle of India’s geothermal energy revolution.
At a time when the nation is grappling with petroleum fuel shortage amid the ongoing Tehran–Tel Aviv conflict, the country’s vast shale gas reserves, capable of meeting demand for at least 60 years, remain largely untapped.
At the close, the Sensex was up 208.17 points, or 0.25 per cent, at 84,273.92, and the Nifty was up 67.85 points, or 0.26 per cent, at 25,935.15.
According to the statement, ONGC Director (Production) Pankaj Kumar said that the two companies signed the agreement to enable resource sharing for deep-water offshore exploration and production operations on India's east coast, particularly across the Krishna Godavari (KG) basin, as well as Andaman offshore.
Describing IEW as the first major international energy event of the year, the Minister said the platform will focus on strengthening energy security, catalysing investment and advancing practical decarbonisation pathways.
ONGC said its employees have been at the forefront of combating the pandemic since its onset in March 2020.
Oil Industry Development Cess at the rate of 20% ad valorem is applicable on crude oils produced from pre-NELP blocks and at present, there is no such proposal to amend the rate of cess.
The SPSHA was signed in the presence of Secretary, Ministry of Petroleum & Natural Gas Tarun Kapoor and ONGC CMD Shashi Shanker at Shastri Bhawan, New Delhi.
Oil sector is the highest and easiest way to generate revenue for the Centre as well as state governments.
Geothermal power plants have average availabilities of 90 per cent or higher, compared with about 75 per cent for coal plants.
