ONGC's Green Revolution: Billion-Dollar Push into Renewable Energy

Oil and Natural Gas Corporation (ONGC) is making bold strides in the renewable energy sector. The company plans to invest ₹12 billion in its wholly-owned subsidiary ONGC Green, signaling a major shift towards clean energy. This move follows ONGC's recent acquisition of PTC Energy Limited for ₹9.25 billion, adding a 288.8 MW wind power portfolio to its assets. ONGC aims to build a 10 GW renewable energy portfolio by 2030, investing ₹1 lakh crore in the process. This strategic pivot demonstrates ONGC's commitment to diversifying its energy portfolio and reducing its carbon footprint in line with India's green energy ambitions.

 

Sources: NSE Filing, BSE Announcement