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PTC Energy Limited (PEL), a wholly owned subsidiary of PTC India, has an aggregate operational wind generation capacity of 288.80 MW located in 7 locations in Andhra Pradesh (AP), Madhya Pradesh (MP) and Karnataka. It operates 157 Wind Turbine Generators (WTGs) across all its wind farms. Its turnover was Rs 322.49 crore for FY24.
By way of acquisition of PEL through OGL, a wholly owned subsidiary, ONGC will scale up its investments in the renewable energy sector to achieve its objectives of de-risking its portfolio against long-term disruptions and reducing its carbon footprint by making strategic investments in the energy transition space.
The ONGC Green acquired 65,41,17,494 equity shares, representing a 100% equity stake in PEL.
Meanwhile, the company has been allotted 120 crore equity shares of Rs 10 each by ONGC Green Limited, by way of subscription on right basis.
Maharatna Oil and Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held a 58.89% stake in ONGC as of 31st December 2024.
The company’s standalone net profit fell 16.7% to Rs 8,239.92 crore in Q3 FY25 compared with Rs 9,891.71 crore in Q3 FY24. Revenue from operations declined 3.08% YoY to Rs 33,716.80 crore in Q3 FY25.
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