ONGC plans to invest up to Rs 1 trillion in energy transition by 2030
India’s top oil and gas producer, ONGC, will invest up to Rs 1 trillion by 2030 on energy transition goals as part of its target to go carbon neutral by 2038, ONGC Chairman Arun Kumar Singh said on Monday.
The Maharatna company also plans to raise electricity generation from renewable sources to 10 gigawatt (Gw) by the end of the decade from 189 Mw now.
In a post-result media conference in Mumbai, Singh said the company signed a pact with the Rajasthan government to set up a 5-Gw plant in the state. He said the company was still scouting for opportunities to establish projects worth at least 5 Gw more and will look at offshore wind as well.
