ONGC forms a wholly owned subsidiary-ONGC Green Limited-to produce Green Energy

As intimated to the stock exchanges, Oil.and Natural Gas Corporation (ONGC) will set up a new unit to house its gas business and clean energy projects such as green hydrogen, as it looks to fast-track foray into new areas.

It plans to spend Rs 1 lakh crore on installing 10 GW of renewable energy capacity, and setting up two million tonnes of green ammonia annual production capacity by 2035 as part of its decarbonisation strategy.

ONGC said the wholly-owned subsidiary company will be for value-chains of energy business such as green hydrogen, hydrogen blending, renewable energy, biofuels/biogas business and LNG.

ONGC also Inks a MOU with NTPC Green Energy limited to jointly develop Green energy projects

ONGC incorporates wholly owned subsidiary for green energy and gas biz.