ONGC To Invest ₹1,200 Crore for PTC Energy Acquisition

Big Move Towards Renewable Energy

C is investing ₹1,200 crore in its subsidiary ONGC Green Ltd. (OGL) to buy PTC Energy Ltd. (PEL), which runs 288.8 MW of wind projects across Andhra Pradesh, Madhya Pradesh, and Karnataka. This investment will be done through a rights issue of equity shares, as per ONGC's latest filing. Boosting Green Energy Goals This acquisition is part of ONGC's bigger plan to shift towards renewable energy and achieve net-zero emissions by 2038. The company has also given a ₹75 crore corporate guarantee to support this deal. More Investments Coming