Oil & Natural Gas Corporation Limited — Important, 04-03-2025: General Updates

ONGC is making strategic moves to enhance its renewable energy portfolio. The company has invested in its wholly owned subsidiary, ONGC Green Limited, acquiring 120 crore equity shares. Additionally, ONGC Green Limited has successfully acquired 100% of PTC Energy Limited for ₹925 crore. PTC Energy operates 288.80 MW of wind generation capacity across seven locations in Andhra Pradesh, Madhya Pradesh, and Karnataka, reporting a turnover of ₹322.49 crore in FY’24. This acquisition aligns with ONGC's goal to expand its commitment to renewable energy, targeting a 10 GW renewable energy portfolio by 2030 and aiming for net zero emissions by 2038. The acquisition is seen as a progressive step in diversifying ONGC’s portfolio, highlighting opportunities in the growing renewable energy sector.