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.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Building Material

11 Dec 2025

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

Building Material

11 Dec 2025

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..