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ONGC Green Acquires PTC Energy with 288.80 MW Wind Power Capacity for INR 925 Cr

ONGC Green (OGL) has completed the acquisition of PTC Energy for INR 925 crore, adding 288.80 MW of operational wind capacity across Andhra Pradesh, Madhya Pradesh, and Karnataka to bolster its renewable energy portfolio.

March 05, 2025. By Mrinmoy Dey

ONGC Green (OGL), a wholly-owned subsidiary of Oil and Natural Gas Corporation (ONGC), has acquired wind energy producer PTC Energy for INR 925 crore.

PTC Energy, established in August 2008, as a wholly owned subsidiary of PTC India, has an aggregate operational wind generation capacity of 288.80 MW located in 7 locations in Andhra Pradesh, Madhya Pradesh and Karnataka. It operates 157 Wind Turbine Generators (WTGs) across all its wind farms. The turnover of the company in FY’24 was INR 322.49 crore.

By way of the acquisition of PTC Energy through ONGC Green, ONGC will scale up its investments in the renewable energy sector to achieve its objectives of de-risking its portfolio against long-term disruptions and reducing its carbon footprint by making strategic investments in the energy transition space, shared the company in a regulatory filing.

In February 2025, ONGC signed a non-binding Memorandum of Understanding (MoU) with Tata Power Renewable Energy (TPREL), a subsidiary of The Tata Power Company, to explore collaborative opportunities in the Battery Energy Storage System (BESS) value chain.

ONGC NTPC Green Pvt. Ltd. (ONGPL), a 50:50 joint venture between ONGC Green and NTPC Green Energy, signed a Share Purchase Agreement (SPA) to acquire a 100 percent equity stake in Ayana Renewable Power Pvt. Ltd. for INR 195 billion. Ayana, a renewable energy platform, has approximately 4.1 GW of operational and under-construction assets, strategically located across resource-rich states.

In January 2025, Bharat Heavy Electricals Limited (BHEL) and ONGC signed an MoU for exploring joint projects and collaboration in the area of New and Renewable Energy business, including Fuel Cell, Electrolyser and Battery Energy Storage System Projects.

ONGC Green has been taking various initiatives to achieve a 10 GW renewable energy portfolio for ONGC by 2030 and the net zero target (Scope 1 and Scope 2) by 2038.

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Oil and Natural Gas Corporation

ONGC acquires PTC Energy

Wind power project

ONGC RE Portfolio

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