ONGC invests in green energy, acquires Ayana Power

Oil and Natural Gas Corporation (ONGC) is significantly expanding its footprint in the renewable energy sector through strategic investments and acquisitions. The company has invested INR3,300 Crore in its wholly-owned subsidiary, ONGC Green Limited (OGL), via a rights issue. OGL has further utilized INR3,152.50 Crore of these funds to invest in ONGC NTPC Green Private Limited (ONGPL), a joint venture with NTPC Green Energy Limited (NGEL).