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.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..