State-run Oil and Natural Gas Corporation (ONGC) has issued a clarification regarding recent speculation about the public listing of its green energy subsidiary, ONGC Green Limited (OGL). The clarification comes after ONGC’s Director (Exploration) Sushma Rawat hinted at the possibility of a listing “at an opportune time” during an interview.
In its official statement, ONGC emphasized that while the company is committed to expanding its green energy portfolio, no concrete plans for a public listing have been finalized. “Any decision regarding a public listing remains for the future as and when decided by the ONGC Board,” the statement read.
ONGC Green Ltd was set up as a wholly owned subsidiary to drive the company’s renewable energy ambitions, which include solar, wind, green hydrogen, and compressed biogas projects. The move aligns with India’s net-zero carbon emission target by 2070, with ONGC aiming to scale its renewable portfolio to 10 GW by 2030. The company has earmarked Rs 1 trillion in investments towards various green initiatives by the end of the decade.
Additionally, ONGC is advancing collaborations with both domestic and international players in renewables and green hydrogen. It is also exploring opportunities in geothermal energy and aims to establish 25 compressed biogas (CBG) plants by FY25.
