PTC India has sold its 100% stake in PTC Energy to ONGC Green for Rs 11.79 billion, with the final payment of Rs 2.54 billion received on March 19, 2025. The divestment process was executed in accordance with the Share Purchase Agreement signed on.
September 13, 2024. OGL, a subsidiary of Oil and Natural Gas Corporation (ONGC), assumes full control of PTC Energy and is expected to integrate the acquired assets into OGL’s expanding green energy portfolio.
PTC India, a leading power trading company, has successfully completed the full divestment of its renewable energy subsidiary, PTC India Renewable Energy Ltd (PTC REL), to ONGC Green Energy Ltd (OGEL) for Rs 11 billion. This strategic move marks a significant development in India’s renewable energy sector, aligning with the government’s push for clean and sustainable power solutions.
Transaction Details and Strategic Significance
The divestment, valued at Rs 11 billion, involves the complete transfer of ownership of PTC REL, which operates a portfolio of wind and solar energy assets. ONGC Green Energy Ltd, a subsidiary of the state-run Oil and Natural Gas Corporation (ONGC), has acquired PTC REL as part of its broader.
This acquisition allows ONGC Green to strengthen its presence in wind and solar power generation while helping India meet its ambitious renewable energy targets. The deal also benefits PTC India by enabling it power trading and explore new growth avenues in the evolving energy market.
Impact on India’s Renewable Energy Landscape
The acquisition by ONGC Green is expected to:
- Boost Renewable Energy Capacity – The addition of PTC REL’s wind and solar assets enhances ONGC Green’s renewable portfolio, contributing to India’s target of 500 GW of non-fossil fuel capacity by 2030. ONGC’s increasing investments in clean energy align with its sustainability roadmap to reduce carbon emissions and transition to greener alternatives.
- Encourage Investments in Renewable Energy – The successful transaction showcases growing investor confidence in India’s renewable sector, paving the way for more strategic deals and collaborations The divestment provides PTC India with additional capital, allowing it to streamline its operations and invest in innovative energy solutions.
Future Prospects and Industry Outlook
With India aggressively pushing for renewable energy adoption, ONGC Green’s acquisition of PTC REL positions it as a key player in the transition towards a sustainable energy ecosystem. The deal also sets a precedent for other energy firms looking to realign their portfolios with green energy initiatives.
The divestment reflects the evolving dynamics of India’s energy market, where traditional power companies are increasingly shifting focus toward renewables. As more public and private sector entities invest in clean energy, the sector is expected to witness rapid growth and innovation.
This landmark deal underscores the commitment of both PTC India and ONGC Green to accelerating India’s green energy transition, reinforcing the country’s position as a global leader in sustainable power development.
PTC India has completed the full divestment of its renewable energy subsidiary, PTC India Renewable Energy Ltd (PTC REL), to ONGC Green Energy Ltd (OGEL) for Rs 11 billion. The acquisition strengthens ONGC Green’s wind and solar portfolio, supporting India’s renewable energy targets.
The deal enables PTC India to focus on its core power trading business while contributing to the country’s clean energy transition. This move underscores ONGC’s commitment to decarbonization and sustainable growth, reinforcing India’s leadership in the global renewable energy sector.
PTC India has completed the full divestment of its renewable energy subsidiary, PTC India Renewable Energy Ltd (PTC REL), to ONGC Green Energy Ltd (OGEL) for Rs 11 billion. The acquisition strengthens ONGC.
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