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

21 Mar 2025 CW Team

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

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