Investment5 Mar 2025, 01:32 am
ONGC Invests in Wholly Owned Subsidiary ONGC Green Limited and Acquires PTC Energy Limited for ₹925 Crores
AI Summary
Oil and Natural Gas Corporation Ltd (ONGC) has invested in its wholly owned subsidiary ONGC Green Limited (OGL) by subscribing to 120,00,00,000 equity shares. Additionally, OGL has acquired 100% equity stake in PTC Energy Limited (PEL), a company engaged in Renewable Energy Business with an operational wind generation capacity of 288.80 MW. The acquisition was completed on 04.03.2025 and cost ₹925 crores. PEL, established in August 2008, has a three-year average turnover of approximately ₹307 crores and operates in India. This investment will help ONGC to achieve its objectives of de-risking its portfolio and reducing its carbon footprint.
Key Highlights
- ONGC has invested in its wholly owned subsidiary ONGC Green Limited by subscribing to 120,00,00,000 equity shares.
- ONGC Green Limited has acquired 100% equity stake in PTC Energy Limited for ₹925 crores.
- PTC Energy Limited is engaged in Renewable Energy Business with an operational wind generation capacity of 288.80 MW.
- The acquisition will help ONGC to achieve its objectives of de-risking its portfolio and reducing its carbon footprint.
- PTC Energy Limited had a three-year average turnover of approximately ₹307 crores.