ONGC Forecasting to Set-up Renewable Unit with 10 GW Target by 2030

ONGC, India’s largest crude oil and gas company stays in enhanced stages of forecasting to set up a versatile unit correlated to its green energy business companies. This plan of ONGC includes several segments of green energy namely green ammonia, green hydrogen, storage, offshore wind and CBG.

The General Manager and Head of New Energy & Renewables of ONGC group, Harsh Nupur Joshi highlights the need of various streams of revenue and emphasized that their key focus on oil and gas will be carry on in India.

The hesitating future availability on fossil fuels is a leading force behind major investments and initiatives in green energy.

Further Joshi adds, due to the shorter project conception durations and developing plans, a rapid decision-making activity is needed. One such case, ONGC envisions launching a specific company focused on the company’s green business along with the plans to advancements in diverse stages.

To a certain extent of the company’s expansion strategy for renewable energy projects, ONGC is keenly identifying and addressing the concerns on climate changes by operating towards attaining a net-zero grades for scope-1 and scope-2 by the year 2028. ONGC distinguish and identifies the importance of contributing to several efforts for sustainability and reduce carbon emissions. This contribution gradually aligns with the expansion strategy towards supplying low-carbon & eco-friendly products. At the time of March 31, 2023, the total installed renewableenergy capacity of ONGC stands at 189.52 MW, encompassing solar energy at 36.52 MW & wind energy at 153 MW.