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 Transport

05 Feb 2026

MMRDA Installs 325-Tonne Steel Spans on Mumbai Metro Line 4

The Mumbai Metropolitan Region Development Authority (MMRDA) has achieved a key construction milestone on Metro Line 4 with the successful installation of three large steel spans at Bhandup West during overnight operations.The spans, together weighing 325 metric tonnes, were launched using eight heavy-duty cranes and 12 multi-axle vehicles. The operation required precise engineering and meticulous planning to minimise disruption in the densely populated suburban area.Due to effective inter-agency coordination, the work—originally scheduled across four nights—was completed within just two n..

Infrastructure Transport

05 Feb 2026

CMRL Targets March 2027 Opening for Vadapalani–Panagal Park

Chennai Metro Rail Limited (CMRL) is progressing as scheduled to open the Vadapalani–Panagal Park section of Phase II’s Corridor 4 by March 2027. The 3.5 km underground stretch is part of the 26.1 km Corridor 4 connecting Lighthouse with Poonamallee Bypass.Construction activities are advancing steadily, with tunnelling works between Vadapalani and Panagal Park already completed. Track-laying operations are expected to commence shortly. At Panagal Park station, structural works have reached the concourse and platform levels, while excavation continues at the lowest level.CMRL is also consid..

Infrastructure Transport

05 Feb 2026

Maha-Metro Invites Pune Metro Civil Maintenance Bids

Maharashtra Metro Rail Corporation Limited (Maha-Metro) has invited bids for the annual civil maintenance contract of the Pune Metro Rail Project. The tender, bearing ID and number P1-O&M-20/2025, is scheduled to close on 23 February 2026, with a pre-bid meeting slated for 10 February 2026. The earnest money deposit (EMD) for the contract is Rs 3,50,500, and the duration of the contract is one year.The scope of work includes annual civil maintenance of 28 elevated and underground stations, 28.079 km of elevated viaduct including steel bridges, 12.15 km of tunnels, and two depots under the ..