ONGC Green Limited (OGL), a wholly owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC) has signed Share Purchase Agreement with PTC India Limited for acquisition of 100% equity stake in PTC Energy Limited (PEL).

The aforesaid acquisition is subject to completion of condition precedents and other terms and conditions, as per share purchase agreement executed between the parties and approvals, as may be required under applicable laws.

PEL has an aggregate operational wind generation capacity of 288.80 MW located in Andhra Pradesh, Madhya Pradesh, and Karnataka. It operates a total of 157 Wind Turbine Generators (WTGs) across all its wind farms.

Oil and Natural Gas Corporation Ltd. (ONGC) has taken various initiatives in the renewable energy domain to achieve its Net Zero Target (Scope 1 & 2) by 2038. To consolidate these efforts and accelerate progress, the company has incorporated a wholly owned subsidiary, ONGC Green Limited (OGL).

OGL is primarily engaged in green energy and gas businesses viz. renewable energy (solar, wind, hybrid, hydel, tidal, and geothermal etc.), biofuels/biogas business, green hydrogen and its derivatives such as green ammonia, green methanol, storage, carbon capture utilization and storage, and LNG business.