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 Energy

09 Jan 2026

TARIL Q3 FY26 Revenue Jumps 32% to Rs 7.36 Bn, Profits Surge

Transformers & Rectifiers (India) (TARIL) reported a robust financial performance for the third quarter ended December 31, 2025, posting strong growth across revenue and profitability metrics. The company, a leading manufacturer of power and specialty transformers, benefited from improved operating leverage, disciplined execution and ongoing process optimisation initiatives.During the quarter, TARIL recorded consolidated revenue from operations of Rs 7.36 billion, marking a year-on-year growth of 32 per cent. EBITDA stood at Rs 1.29 billion, up 38 per cent year-on-year, while profit after ..

Green Power International Wins 384 TKM Rail Electrification Deal

Green Power International has secured a 384 track kilometre (TKM) overhead electrification contract from South-Eastern Railway for the Adra Division, further strengthening its presence in India’s railway electrification segment. The project involves upgrading the existing electric traction system from 1x25 kV to 2x25 kV on key routes within the division.Under the contract, Green Power International will undertake the design, supply, erection, testing and commissioning of the upgraded traction system for the Asansol–Adra–Bhojudih–Dhanbad section. The scope of work will be executed in ac..

Teknovace, Remmers Forge Rs 3 Bn Deal for Global Coatings Hub

Teknovace has entered into a strategic global partnership with Germany-based Remmers Gruppe SE to build a large-scale, export-oriented wood coatings manufacturing platform in India. As part of the alliance, Remmers will make a strategic equity investment of Rs 3 billion to acquire a 50.01 per cent stake in Teknovace in two tranches, marking one of the largest foreign strategic investments in India’s wood coatings sector.The partnership comes at a time when India’s wood coatings market, valued at around $1.3 billion (Rs 100 billion), is growing at an estimated 11% annually, driven by demand..