ONGC is going all out green. The company announced, on February 24, 2025, that it’s investing ₹1,200 crore in its wholly owned subsidiary ONGC Green Ltd (OGL). The infusion of funds, made via a regulatory filing, would be to acquire PTC Energy Ltd. It’s certain proof that ONGC means business in going green. The news hit the wires late Monday, and it’s already got folks buzzing.
PTC Energy’s a prize worth grabbing. It runs wind power projects totaling 288.80 MW across Andhra Pradesh, Madhya Pradesh, and Karnataka. ONGC Green signed a share purchase agreement with PTC India Ltd last year to snag a 100% stake. “The PTC Energy deal is going to give ONGC’s clean energy portfolio some muscle,” an analyst wrote online. With this acquisition, ONGC’s adding some serious wind power credentials to its CV.
The Bigger Green Plan
This is not a one-off. ONGC’s also chasing a net-zero emissions target by 2038. They’ve invested ₹2 lakh crore to achieve that, ₹1 lakh crore of which is earmarked for renewables by 2030. “The investment is part of ONGC’s broader strategy to accelerate its renewable energy transition,” the company said in its filing. Think green hydrogen, offshore wind, and more. Buying PTC Energy is just the latest step in that long hike.
How It’s Happening
The ₹1,200 crore comes via a rights offer—ONGC’s subscribing to equity shares in OGL. The subsidiary, launched in February 2024 with a ₹100 crore authorized capital, is built for this kind of work. It’s all about green hydrogen, carbon capture, and renewable sources like solar and wind. ONGC’s board also greenlit a ₹75 crore corporate guarantee for PTC Energy, replacing an earlier one. It’s a tidy financial play to keep things rolling.
Oil’s still king, but the world’s shifting. India’s aiming for 500 GW of non-fossil fuel energy by 2030, and ONGC wants in. Their oil and gas roots are deep, but renewables are the future. “ONGC has committed to investing around Rs 2 lakh crore to achieve its net-zero targets by 2038,” Zee Business reported. PTC Energy’s 288.80 MW gives them a solid foothold to build from. Plus, diversifying revenue never hurts.
Challenges Ahead
It’s not all smooth roads. ONGC’s stock dipped 2.31% to ₹234.35 on the NSE that day, outpacing the Nifty’s 1.06% drop. Market jitters and global energy trends are in play. Integrating wind power into their oil-heavy setup won’t be instant either.
This transaction’s more than figures—it’s a claim. ONGC’s investing heavy in a green future, and Assam’s not the first state they’re placing their bets on. With PTC Energy, they’re tapping wind energy to light up homes and reduce carbon. It’s an enormous ₹1,200 crore leap, but for a behemoth like ONGC, it’s the kind of leap that can revive them. The green path is a long one, but they’ve taken off running.
