Explanation:

• NTPC Ltd., the PSU under Ministry of Power, signed a Memorandum of Understanding (MoU) with Oil and Natural Gas Corporation Limited (ONGC), the PSU under Ministry of Petroleum & Natural Gas on 22 May. The MoU aimed to set up a Joint Venture (JV) Company for the Renewable Energy business. 
• The MoU will enable NTPC and ONGC to accelerate their footprint in Renewable Energy.
• As per the MoU, NTPC and ONGC will explore the setting up of offshore wind and other Renewable Energy (RE) Projects in India and overseas.