New Delhi: State-run oil and gas major ONGC clarified that it has no immediate plans to list its renewable energy subsidiary, ONGC Green Limited (OGL), on the stock exchange. The statement comes amid increasing speculation about an initial public offering (IPO) for the green energy arm, as investor interest in renewable assets surges.
In an official statement, ONGC said, “The company is in the process of building a green energy portfolio as part of its growth strategy and future energy thrust. However, any decision on a public listing of ONGC Green Limited will be taken by the ONGC Board at an appropriate time. At present, no concrete plans have been made.”
ONGC Green has been actively expanding its footprint in the renewables space. It recently signed a share purchase agreement with PTC India Ltd to acquire a 100% stake in PTC Energy Limited (PEL), which operates wind energy projects with a combined capacity of 288.80 MW across Andhra Pradesh, Madhya Pradesh, and Karnataka.
Additionally, ONGC Green has partnered with NTPC Green in a joint venture to explore offshore wind, energy storage, green hydrogen, e-mobility, and asset acquisitions.
