ONGC Green Ltd. Acquires PTC Energy for Rs. 1,179 Cr.

ONGC Green Limited (OGL), a wholly-owned subsidiary of Oil and Gas Corporation Ltd., has acquired PTC Energy Limited (PEL) from PTC India Ltd. for Rs. 1,179 crore.

PTC Energy’s Operational Overview and Acquisition by ONGC Green

PTC Energy is a wind power developer with an operational wind power capacity of 288.80 MW. The company operates wind power projects across seven locations in Andhra Pradesh, Madhya Pradesh, and Karnataka. The company has total 157 Wind Turbine Generators (WTGs) across all its wind power projects.

Oil and Natural Gas Corporation has specified cash as the mode of payment for acquiring PTC Energy Ltd. While payment of INR 925 Cr. was made by ONGC Green on 4th March, the remaining INR 254 Cr. was released to PTC India on 19th March 2025.

ONGC’s Expansion into Renewable Energy Sector

Through the acquisition of PTC Energy, ONGC targets to increase its investments in the renewable energy sector. This move is part of the company’s strategy to reduce its carbon footprint by making targeted investments in the energy transition space.

ONGC is targeting to achieve 10 GW of renewable energy capacity by 2030 and net zero carbon emissions by 2038.

Earlier in February 2025, ONGPL, an equally-owned joint venture between ONGC Green Limited (OGL) and NTPC Green Energy Limited (NGEL), has signed a Share Purchase Agreement to acquire 100% stake in Ayana Renewable Power Private Limited.

About ONGC Green Limited: ONGC Green Limited was established on 27th February 2024 and is a wholly-owned subsidiary of Oil and Natural Gas Corporation Ltd. The company has its corporate office in Vasant Kunj, New Delhi.

About PTC Energy Limited: PTC Energy Limited, a wholly-owned subsidiary of PTC India Ltd., was established in August 2008. The company reported a revenue of Rs. 322.49 crore during FY-24.