ONGC Acquires PTC Energy With Its 288.8 MW Wind Projects

ONGC has announced its investment in ONGC Green Limited (OGL) and the recent acquisition of PTC Energy Limited (PEL). In a regulatory filing regarding the acquisition of PTC Energy Limited (PEL), it stated, “PTC Energy Limited (PEL) was established in August 2008 as a wholly owned subsidiary of PTC India Limited. It has an aggregate operational wind generation capacity of 288.80 MW spread across seven locations in Andhra Pradesh (AP), Madhya Pradesh (MP), and Karnataka. The company operates 157 Wind Turbine Generators (WTGs) across these wind farms. PEL’s turnover in FY24 was ₹322.49 crore.” The deal marks the second instance of ONGC’s subsidiary picking up a Renewable energy firm owned by a public sector undertaking effectively. In other words, at a larger level, money is simply moving from the left hand to the right, while taking out the risk of criticism of over paying for such assets.

OGL has been set up to achieve ONGC’s target of a 10 GW renewable energy portfolio by 2030 and *net zero (Scope 1 and Scope 2) by 2038.”

Earlier, ONGPL had acquired Ayana in a landmark Rs 19,500 crore renewable energy deal. It was done last month. As per the agreement, the National Investment and Infrastructure Fund (NIIF), British International Investment PLc (BII) and its subsidiaries and Evensource Capital had acquired a 100 percent equity stake in Ayana Renewable Power (Ayana).

About PTC Energy Limited (PEL)

Established in August 2008 as a wholly owned subsidiary of PTC India Limited, PEL has an aggregate operational wind generation capacity of 288.80 MW across seven locations in Andhra Pradesh, Madhya Pradesh, and Karnataka. It operates 157 Wind Turbine Generators (WTGs) across all its wind farms.

ONGC’s Entry Into  Renewable Energy Projects

Last year, in 2024, ONGC NTPC Green Private Limited (ONGPL) was recently incorporated as a 50:50 joint venture with NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited. and ONGC Green Limited (OGL), an Oil and Natural Gas Corporation Limited subsidiary. This joint venture envisions harnessing potential opportunities in storage, e-mobility, and ESG (Environmental, Social, and Governance) compliant projects. It will also explore opportunities related to Carbon Credits and Green Credits to support the transition to a low-carbon economy. NGEL has subscribed to 50,000 (fifty thousand) equity shares at a face value of ₹10 each.