PTC India Fully Divests Renewable Energy arm to ONGC Green for Rs 11 Bn
POWER & RENEWABLE ENERGY

PTC India Fully Divests Renewable Energy arm to ONGC Green for Rs 11 Bn

PTC India has finalised the sale of its entire 100 per cent stake in PTC Energy to ONGC Green (OGL) for Rs 11.79 billion. The transaction was completed with the receipt of the final payment of Rs 2.54 billion on March 19, 2025. Earlier, on March 4, 2025, OGL had transferred Rs 9.25 billion as part of the total consideration.

The divestment process was executed in accordance with the Share Purchase Agreement signed on September 13, 2024. PTC India had previously issued updates regarding the sale on multiple occasions, including October 19, 2023, October 26, 2023, September 13, 2024, and March 4, 2025. The transaction amount incorporated adjustments to the bid price, as mutually agreed upon by both entities.

PTC India reported that the divested business unit contributed 2% of its consolidated turnover in FY24 and accounted for 14.6 per cent of its net worth. The company also confirmed that the sale was conducted at arm’s length and did not fall under related party transactions.

With this acquisition, OGL, a subsidiary of Oil and Natural Gas Corporation (ONGC), assumes full control of PTC Energy. The acquired assets are expected to be integrated into OGL’s expanding green energy portfolio. Meanwhile, PTC Energy will shift its focus towards core operational areas following the divestment.

PTC Energy has been actively involved in power generation, trading, and renewable energy projects across India. ONGC Green continues to strengthen its presence in the sustainable energy sector through strategic acquisitions and expansion efforts.

News source: CNBC TV18

PTC India has finalised the sale of its entire 100 per cent stake in PTC Energy to ONGC Green (OGL) for Rs 11.79 billion. The transaction was completed with the receipt of the final payment of Rs 2.54 billion on March 19, 2025. Earlier, on March 4, 2025, OGL had transferred Rs 9.25 billion as part of the total consideration. The divestment process was executed in accordance with the Share Purchase Agreement signed on September 13, 2024. PTC India had previously issued updates regarding the sale on multiple occasions, including October 19, 2023, October 26, 2023, September 13, 2024, and March 4, 2025. The transaction amount incorporated adjustments to the bid price, as mutually agreed upon by both entities. PTC India reported that the divested business unit contributed 2% of its consolidated turnover in FY24 and accounted for 14.6 per cent of its net worth. The company also confirmed that the sale was conducted at arm’s length and did not fall under related party transactions. With this acquisition, OGL, a subsidiary of Oil and Natural Gas Corporation (ONGC), assumes full control of PTC Energy. The acquired assets are expected to be integrated into OGL’s expanding green energy portfolio. Meanwhile, PTC Energy will shift its focus towards core operational areas following the divestment. PTC Energy has been actively involved in power generation, trading, and renewable energy projects across India. ONGC Green continues to strengthen its presence in the sustainable energy sector through strategic acquisitions and expansion efforts. News source: CNBC TV18

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code