ONGC to invest Rs 2 trillion to reach net zero emissions by 2038
OIL & GAS

ONGC to invest Rs 2 trillion to reach net zero emissions by 2038

Oil and Natural Gas Corporation (ONGC), India's largest producer of crude oil and natural gas, has unveiled ambitious plans to invest approximately Rs 2 trillion in renewable energy infrastructure and green hydrogen projects as part of its strategy to achieve net zero carbon emissions by 2038.

In a comprehensive 200-page document, ONGC outlined its roadmap towards sustainability, emphasising the development of clean energy projects alongside efforts to enhance hydrocarbon output to meet national energy demands.

By 2030, ONGC aims to invest Rs 970 billion to establish 5 gigawatts (GW) of renewable energy capacity, including green hydrogen, biogas, pump storage plants, and offshore wind projects. An additional Rs 655 billion will be allocated by 2035, primarily towards green hydrogen and green ammonia facilities, with the remaining Rs 380 billion earmarked by 2038 for offshore wind projects totalling 1 GW.

These initiatives are projected to offset approximately 9 million tonnes of carbon emissions annually, encompassing both direct emissions (Scope-1) and those indirectly linked to its operations (Scope-2).

ONGC also aims to eliminate gas flaring entirely by 2030, investing Rs 50 billion in advanced technologies to achieve this goal. The company released 554 million cubic metres of methane into the atmosphere in 2021-22, largely due to incidental by-products of oil production or uneconomical quantities.

Furthermore, ONGC plans to invest Rs 300 billion in developing 5 GW of solar parks and wind turbines by 2030, with additional capacities of 1 GW each of solar and onshore wind by 2035 and 2038, respectively.

Offshore wind energy is set to play a crucial role in ONGC's renewable energy portfolio, with plans to install 0.5 GW of capacity by 2030 and scale it to 1 GW by 2035, involving investments totalling Rs 125 billion and Rs 120 billion, respectively. By 2038, an additional 1 GW of offshore wind capacity is planned, requiring an investment of Rs 250 billion.

Additionally, ONGC is exploring investments of Rs 200 billion in 3 GW of pump storage plants to ensure electricity supply during periods of low renewable energy availability, complemented by investments in biogas, carbon capture technologies, and other clean energy initiatives.

While advancing its sustainability agenda, ONGC remains committed to its core operations of oil and gas exploration and production, crucial for meeting India's energy demands. Amid global shifts towards cleaner energy sources, ONGC's strategic investments underscore its proactive approach in aligning with future energy trends and environmental goals. (Source: ET)

Oil and Natural Gas Corporation (ONGC), India's largest producer of crude oil and natural gas, has unveiled ambitious plans to invest approximately Rs 2 trillion in renewable energy infrastructure and green hydrogen projects as part of its strategy to achieve net zero carbon emissions by 2038. In a comprehensive 200-page document, ONGC outlined its roadmap towards sustainability, emphasising the development of clean energy projects alongside efforts to enhance hydrocarbon output to meet national energy demands. By 2030, ONGC aims to invest Rs 970 billion to establish 5 gigawatts (GW) of renewable energy capacity, including green hydrogen, biogas, pump storage plants, and offshore wind projects. An additional Rs 655 billion will be allocated by 2035, primarily towards green hydrogen and green ammonia facilities, with the remaining Rs 380 billion earmarked by 2038 for offshore wind projects totalling 1 GW. These initiatives are projected to offset approximately 9 million tonnes of carbon emissions annually, encompassing both direct emissions (Scope-1) and those indirectly linked to its operations (Scope-2). ONGC also aims to eliminate gas flaring entirely by 2030, investing Rs 50 billion in advanced technologies to achieve this goal. The company released 554 million cubic metres of methane into the atmosphere in 2021-22, largely due to incidental by-products of oil production or uneconomical quantities. Furthermore, ONGC plans to invest Rs 300 billion in developing 5 GW of solar parks and wind turbines by 2030, with additional capacities of 1 GW each of solar and onshore wind by 2035 and 2038, respectively. Offshore wind energy is set to play a crucial role in ONGC's renewable energy portfolio, with plans to install 0.5 GW of capacity by 2030 and scale it to 1 GW by 2035, involving investments totalling Rs 125 billion and Rs 120 billion, respectively. By 2038, an additional 1 GW of offshore wind capacity is planned, requiring an investment of Rs 250 billion. Additionally, ONGC is exploring investments of Rs 200 billion in 3 GW of pump storage plants to ensure electricity supply during periods of low renewable energy availability, complemented by investments in biogas, carbon capture technologies, and other clean energy initiatives. While advancing its sustainability agenda, ONGC remains committed to its core operations of oil and gas exploration and production, crucial for meeting India's energy demands. Amid global shifts towards cleaner energy sources, ONGC's strategic investments underscore its proactive approach in aligning with future energy trends and environmental goals. (Source: ET)

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?