PTC India Ltd has completed the sale of its wholly-owned subsidiary, PTC Energy Limited (PEL), to ONGC Green Limited (OGL) for ₹925 crore. The deal was completed on March 4, 2025, and marks a major milestone in India's renewable energy growth.
Highlights:
PTC India received ₹2.54 billion as consideration for the transaction, including equity and adjustments.
PTC Energy owns 288.80 MW wind power generation in Andhra Pradesh, Madhya Pradesh, and Karnataka in total, on a capacity basis with 157 wind turbine generators.
ONGC Green has visions for a 10 GW portfolio in renewable power by 2030, fitting with India's own goal to get to 500 GW of non-fossil energy by 2030.
The deal adds ONGC's green energy footprint and helps PTC India consolidate and deleverage. The action shows India's shift toward sustainable energy options and ONGC's intent to minimize its carbon footprint.
Sources: Business Standard, Energetica India, March 20, 2025