ONGC Green Limited (OGL), a wholly owned subsidiary of Oil and Natural Gas Corporation (ONGC) Limited, has acquired a 100 per cent equity stake in PTC Energy Limited for Rs 9.25 billion, making it a wholly owned subsidiary of OGL.
The acquisition does not fall under related party transactions and was executed at arm’s length. The acquisition aligns with ONGC’s strategic goal of expanding its renewable energy portfolio to 10 GW by 2030 and achieving net zero (scope 1 and scope 2) by 2038.