India’s oil and gas giant ONGC is taking a major step toward sustainability by committing ₹3,500 crore in the current financial year to green energy projects. The company aims to add 1 gigawatt (GW) of renewable capacity, equally divided between solar and wind energy. This investment forms part of ONGC’s larger strategy to reach 10 GW of renewable energy capacity by 2030, positioning itself as a serious contender in the clean energy space.
To fast-track its progress, ONGC Green, a wholly owned subsidiary of ONGC, recently completed the acquisition of Ayana Renewable Power for ₹6,248 crore. Ayana adds a robust portfolio of 2.1 GW of operational assets and another 2 GW under construction. Additionally, the acquisition of PTC Energy for ₹925 crore has further strengthened ONGC’s renewable footprint by bringing in 288 MW of wind power assets.
While focusing on renewables, ONGC is also allocating ₹35,000 crore toward its core oil and gas exploration business this year, with plans to potentially raise that to ₹45,000 crore by 2028–29 depending on project developments. This dual investment strategy highlights ONGC’s commitment to leading India’s energy transition—balancing its traditional strengths with a strong push into the clean energy future.