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ONGC Green Limited to Acquire 100% Stake in PTC Energy Limited for Renewable Energy Expansion

Oil and Natural Gas Corporation Ltd (ONGC) has taken various initiatives in the Renewable Energy domain to achieve its Net Zero Target (Scope 1 & 2) by 2038. To consolidate these efforts and accelerate progress, the Company has incorporated a wholly owned subsidiary, ONGC Green Limited (OGL), primarily engaged in green energy and gas businesses. OGL has signed a Share Purchase Agreement on 13.09.2024 with PTC India Limited for acquisition of 100 % equity stake in PTC energy Limited (PEL). PEL has an aggregate operational wind generation capacity of 288.80 MW located in Andhra Pradesh, Madhya Pradesh and Karnataka. The acquisition is subject to completion of Condition Precedents and other terms and conditions, as per the Share Purchase Agreement executed between the parties and approvals, as may be required under applicable laws.

• ONGC Green Limited (OGL) to acquire 100% equity stake in PTC Energy Limited (PEL) for renewable energy expansion.
• PEL has an operational wind generation capacity of 288.80 MW located in Andhra Pradesh, Madhya Pradesh and Karnataka.
• OGL is primarily engaged in green energy and gas businesses, including renewable energy, biofuels/ bio-gas business, green hydrogen and its derivatives, storage, carbon capture utilization and storage and LNG business.
• The acquisition is subject to completion of Condition Precedents and other terms and conditions, as per the Share Purchase Agreement.
• The acquisition is a significant step towards ONGC's Net Zero Target (Scope 1 & 2) by 2038.