ONGC Green Strengthens Renewable Portfolio with ₹1,179 Crore Acquisition of PTC Energy – EQ
In Short : ONGC Green Limited, a subsidiary of ONGC, has acquired PTC Energy Limited for ₹1,179 crore. The acquisition includes PTC Energy’s 288.8 MW renewable energy assets, primarily wind power projects. This strategic move strengthens ONGC’s green energy portfolio, aligning with its plans to expand in the renewable sector and support India’s clean energy transition.
In Detail : ONGC Green Limited, a subsidiary of Oil and Natural Gas Corporation (ONGC), has completed the acquisition of PTC Energy Limited for ₹1,179 crore. The deal marks a significant step in ONGC’s strategy to expand its presence in the renewable energy sector and contribute to India’s clean energy goals.
PTC Energy Limited, a wholly-owned subsidiary of PTC India, operates renewable energy assets with a total capacity of 288.8 megawatts. The portfolio primarily consists of wind power projects spread across Madhya Pradesh, Karnataka, and Andhra Pradesh.
The acquisition will provide ONGC Green Limited access to operational renewable assets, strengthening its green energy portfolio. The company aims to use this platform to scale up its renewable energy capacity in the coming years.
ONGC has been actively pursuing opportunities in the renewable energy sector as part of its energy transition strategy. The acquisition of PTC Energy aligns with its plan to diversify its energy mix and reduce carbon emissions.
With this acquisition, ONGC Green Limited will also benefit from the experience and technical expertise gained through operating large-scale renewable projects. It is expected to enhance the company’s capabilities in managing and expanding renewable energy assets.
The deal reflects the increasing focus of major energy companies on renewable energy amid growing global emphasis on sustainability and decarbonization. ONGC’s move is a step forward in contributing to India’s renewable energy targets and reducing dependence on fossil fuels.
