ONGC plans for dedicated green energy entity with 10 GW target by 2030

14 Dec 2023 CW Team

The state-owned oil and gas giant, ONGC, is in advanced stages of planning to establish a distinct entity dedicated to its green business ventures. These plans encompass various segments of renewable energy, including green hydrogen, green ammonia, storage, offshore wind, and CBG.

While emphasising that the primary focus in India will continue to be on oil and gas, Harsh Nupur Joshi, ONGC's Group General Manager and Head of New Energy and Renewables, highlighted the necessity of diversifying revenue streams. The uncertainty surrounding future restrictions on fossil fuels is a driving force behind significant investments in new energy initiatives.

Joshi emphasised the rapid decision-making required in the renewable energy sector due to shorter project gestation periods and evolving policies. ONGC aims to establish a separate company specifically for its green business, with plans at an advanced deliberation stage.

Acknowledging the challenges posed by venturing into a new domain, Joshi emphasised the need for ONGC to develop expertise in renewable energy projects. Drawing inspiration from similar initiatives by state-run PSUs like NTPC, which launched NTPC Green as a separate entity for its green energy ventures, ONGC envisions achieving a renewable energy capacity of 10 GW by 2030, with a planned investment of Rs 1 trillion.

As part of its broader strategy, ONGC is actively addressing climate change concerns by working towards achieving net-zero status for Scope-1 and Scope-2 emissions by 2038. The company recognises the significance of contributing to sustainability efforts and reducing carbon emissions, aligning with the broader movement towards providing low-carbon and sustainable products. As of March 31, 2023, ONGC's total installed renewable energy capacity stands at 189.52 MW, comprising 36.52 MW of solar energy and 153 MW of wind energy.

Real Estate

30 May 2026

Hafele Installs Tallest Movable Wall In Goa

Hafele India has delivered the world’s tallest movable wall at the ONGC Convention & Exhibition Centre in Goa. The installation stands 22 metres high and spans 48.1 metres in width, marking a major engineering milestone for large-format convention spaces.The movable wall has been designed to support flexible space configuration and offers 57 dB sound insulation for improved acoustic performance. Built with 1,500 mm wide panels, the system enables smooth movement and seamless functionality across large spans.Frank Schloeder, Managing Director, Hafele South Asia, said the project reflects ..

Listed Developers’ Pre-Sales Rise 18 Per Cent

The combined pre-sales revenue of India’s top 11 listed real estate developers rose 18 per cent to over Rs 1.48 lakh crore in FY26 from nearly Rs 1.26 lakh crore in FY25, according to ANAROCK Research.The analysis covered Godrej Properties, Prestige Estates, DLF, Lodha, Signature Global, Brigade Enterprises, Puravankara, Oberoi Realty, Kolte-Patil, Keystone and Sobha. Developers with stronger exposure to premium and luxury housing recorded higher growth, led by Prestige Estates at 76 per cent, followed by Puravankara at 48 per cent, Keystone at 33 per cent and Sobha at 30 per cent.ANAROCK sa..

Autodesk To Acquire MaintainX For $3.6 Billion

Autodesk has signed a definitive agreement to acquire MaintainX, a maintenance and asset operations software company, in a deal valued at $3.6 billion. The acquisition will be funded through cash on hand and debt financing and is expected to close later this fiscal year.MaintainX is projected to exceed $135 million in annualised recurring revenue in 2026. Its mobile-first platform helps organisations manage assets, coordinate frontline workflows and track real-world operational data across global operations.Autodesk said the acquisition will support its broader move into connected operations b..