ONGC and Tata Power Renewable Energy Join Forces to Expand Battery Energy Storage Solutions

ONGC and Tata Power Renewable Energy (TPREL) have signed a non-binding Memorandum of Understanding (MoU) to explore business opportunities in the Battery Energy Storage System (BESS) sector. The collaboration aims to drive advancements in energy storage solutions, focusing on grid stabilization, renewable energy integration, EV charging infrastructure, and commercial storage, supporting India’s clean energy transition. Investors are closely monitoring Tata Power shares, which closed at ₹348.10 on February 12. This partnership highlights both companies’ commitment to sustainability and long-term energy security.

CONTENTS:

• ONGC and Tata Power Renewable Energy Partner to Explore Battery Energy Storage Solutions
• Tata Power Renewable and ONGC Sign MoU for Battery Energy Storage Collaboration

ONGC and Tata Power Renewable Energy Join Forces to Expand Battery Energy Storage Solutions

ONGC and Tata Power Renewable Energy Partner to Explore Battery Energy Storage Solutions

Tata Power Renewable Energy (TPREL), the green energy arm of Tata Power, has entered into a non-binding Memorandum of Understanding (MoU) with Oil and Natural Gas Corporation (ONGC) to explore business opportunities in the Battery Energy Storage System (BESS) sector. This collaboration, announced in a stock exchange filing, aims to leverage both companies’ expertise to drive advancements in energy storage solutions.

Ahead of the market opening today, investors are closely watching Tata Power shares following this development. On February 12, the stock closed at ₹348.10, slightly up from its opening price of ₹348.20. Over the past year, Tata Power shares have fluctuated between a 52-week high of ₹494.85 and a low of ₹338.50, with a trading volume of 389,213 shares on the BSE.

Key Aspects of the Tata Power Renewable-ONGC Collaboration
The MoU, signed at India Energy Week 2025, outlines plans to jointly explore various segments of the BESS value chain. These include backup power, EV charging infrastructure, energy trading through ancillary services, grid stabilization, hybrid energy solutions, microgrids, industrial and commercial storage, renewable energy integration, and utility-scale storage systems.

The signing event was attended by key officials, including Petroleum and Natural Gas Minister Hardeep Singh Puri, ONGC Chairman and CEO Arun Kumar Singh, and TPREL CEO and MD Deepesh Nanda.

A statement released to the exchanges emphasized that this partnership highlights both companies’ commitment to sustainable energy solutions and India’s broader energy transition goals. It also referenced TPREL’s recent achievement in commissioning a 100 MW solar PV plant integrated with a 120 MWh utility-scale BESS in Rajnandgaon, Chhattisgarh—India’s largest such project to date.

Strengthening India’s Energy Transition

TPREL’s CEO, Deepesh Nanda, described the partnership as a major step toward advancing India’s clean energy transition. He stressed that energy storage will be critical in improving grid stability, enhancing renewable energy integration, and supporting the country’s sustainability objectives.

Similarly, ONGC’s Arun Kumar Singh noted that the agreement represents a strategic move to enhance energy storage capabilities, which are essential for grid resilience and wider adoption of renewable energy. By pooling their strengths, both companies aim to contribute significantly to India’s long-term energy security and sustainability.

Tata Power Renewable and ONGC Sign MoU for Battery Energy Storage Collaboration

Tata Power Company Ltd announced on Wednesday (February 12) that its subsidiary, Tata Power Renewable Energy Ltd (TPREL), has signed a non-binding Memorandum of Understanding (MoU) with Oil and Natural Gas Corporation Ltd (ONGC) to explore joint opportunities in the Battery Energy Storage System (BESS) sector.

The partnership aims to identify and develop commercial opportunities across multiple segments of the BESS value chain, including utility-scale systems, grid stabilization services, renewable energy integration, microgrids, hybrid energy solutions, industrial and commercial storage, backup power, electric vehicle (EV) charging infrastructure, and energy trading through ancillary services.

Leaders Highlight Importance of Energy Storage

Deepesh Nanda, CEO & Managing Director of TPREL, emphasized that the collaboration marks a key milestone in India’s transition to clean energy. He stated that BESS would be crucial in enhancing grid reliability, integrating more renewable energy, and supporting the country’s ambitious sustainability goals.

Arun Kumar Singh, Chairman and CEO of ONGC, reaffirmed the company’s commitment to advancing clean energy initiatives. He described the partnership with Tata Power Renewable Energy as a strategic move to enhance energy storage capabilities, which are essential for grid stability and expanding renewable energy adoption.

Tata Power echoed this sentiment, stating that by jointly developing solutions in the battery energy storage sector, both companies aim to contribute significantly to India’s renewable energy targets and create a strong, future-ready energy ecosystem.

Stock Market Impact

Shares of Tata Power Company Ltd closed at ₹348.25 on Wednesday, down ₹0.80 or 0.23% on the BSE.