+
ONGC Green Fully Acquires PTC Energy for Rs 9.25 Bn
OIL & GAS

ONGC Green Fully Acquires PTC Energy for Rs 9.25 Bn

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.

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.

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?