ONGC Green Fully Acquires PTC Energy for Rs 9.25 Bn

06 Mar 2025 CW Team

Through this strategic investment, ONGC aims to strengthen its foothold in the energy transition space, aligning with global sustainability goals and India's commitment to reducing carbon emissions. The move is part of ONGC's broader objective of de-risking its portfolio and accelerating the shift towards clean energy solutions.

Established in August 2008, PTC Energy Ltd. is a wholly owned subsidiary of PTC India Ltd. and operates a total wind power capacity of 288.8 MW across seven locations in Andhra Pradesh, Madhya Pradesh, and Karnataka. The company runs 157 wind turbine generators, contributing to India’s growing renewable energy sector. In FY 2023–24, PEL reported a turnover of Rs 3.22 billion, highlighting its steady revenue stream within the wind energy segment.

Additionally, ONGC has been allotted 120 crore equity shares of Rs 10 each by ONGC Green Ltd. through a rights issue subscription, further reinforcing its commitment to green energy investments.

Market and Industry Outlook India’s renewable energy sector is witnessing rapid expansion, driven by government incentives, corporate sustainability commitments, and global decarbonisation efforts. With the country targeting 500 GW of non-fossil fuel capacity by 2030, ONGC’s acquisition of PTC Energy aligns with the broader push for clean energy adoption.

Shares of ONGC closed 0.72% higher at Rs 226.76 on the NSE, outperforming the Nifty 50’s 0.17% decline. However, the stock has dropped 18.76% over the past year. Market sentiment remains mixed, with 20 out of 29 analysts rating ONGC as a ‘buy’, while four suggest ‘hold’ and five recommend ‘sell’, according to Bloomberg data. Despite recent volatility, analysts project a potential 35.2% upside in ONGC’s share price over the next 12 months, reflecting confidence in the company’s strategic energy transition initiatives.

ONGC Green Ltd., a wholly owned subsidiary of Oil & Natural Gas Corporation (ONGC), has completed the acquisition of a 100% stake in PTC Energy Ltd. (PEL) for Rs 9.25 billion, according to an exchange filing on Tuesday. The acquisition, which includes 65.4 crore equity shares, marks a significant step in ONGC's strategy to expand its renewable energy portfolio and mitigate long-term risks associated with fossil fuel dependency. Through this strategic investment, ONGC aims to strengthen its foothold in the energy transition space, aligning with global sustainability goals and India's commitment to reducing carbon emissions. The move is part of ONGC's broader objective of de-risking its portfolio and accelerating the shift towards clean energy solutions. Established in August 2008, PTC Energy Ltd. is a wholly owned subsidiary of PTC India Ltd. and operates a total wind power capacity of 288.8 MW across seven locations in Andhra Pradesh, Madhya Pradesh, and Karnataka. The company runs 157 wind turbine generators, contributing to India’s growing renewable energy sector. In FY 2023–24, PEL reported a turnover of Rs 3.22 billion, highlighting its steady revenue stream within the wind energy segment. Additionally, ONGC has been allotted 120 crore equity shares of Rs 10 each by ONGC Green Ltd. through a rights issue subscription, further reinforcing its commitment to green energy investments. Market and Industry Outlook India’s renewable energy sector is witnessing rapid expansion, driven by government incentives, corporate sustainability commitments, and global decarbonisation efforts. With the country targeting 500 GW of non-fossil fuel capacity by 2030, ONGC’s acquisition of PTC Energy aligns with the broader push for clean energy adoption. Shares of ONGC closed 0.72% higher at Rs 226.76 on the NSE, outperforming the Nifty 50’s 0.17% decline. However, the stock has dropped 18.76% over the past year. Market sentiment remains mixed, with 20 out of 29 analysts rating ONGC as a ‘buy’, while four suggest ‘hold’ and five recommend ‘sell’, according to Bloomberg data. Despite recent volatility, analysts project a potential 35.2% upside in ONGC’s share price over the next 12 months, reflecting confidence in the company’s strategic energy transition initiatives.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Infrastructure Transport

30 May 2026

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Infrastructure Urban

30 May 2026

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..