India's ONGC unit buys clean energy firm PTC Energy for $106 mln
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 04 2025
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Should l Buy ?
Source: Reuters
Acquisition of Clean Energy Firm: Oil and Natural Gas Corp (ONGC) has acquired clean energy firm PTC Energy for 9.25 billion Indian rupees ($106.02 million), aiming to enhance its green energy portfolio, which includes operational wind generation capacity of 288 megawatts.
Renewable Energy Goals: ONGC plans to achieve a renewable energy portfolio of 10 GW by 2030, contributing to India's commitment to establish 500 GW of non-fossil fuel electricity generation capacity by the same year, despite falling short of previous targets.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
