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ONGC Green Targets Rs 6,000 Crore In Ebitda By 2030

The company has an Ebitda target of Rs 3,300 crore from its recent acquisition of Ayana Renewable by FY27.

Mihika Barve

The company plans to meet its parent's 10 GW renewable capacity target by 2030. (Image: Envato)

ONGC Green Limited., a wholly owned subsidiary of Oil and Natural Gas Corporation, which was formed in 2024 has extensive targets for 2030. The company plans to meet its parent's 10 GW renewable capacity target by 2030, and also expects to contribute Ebitda of Rs 6,000 crore to ONGC over the same period, Sanjay Kumar Mazumder, CEO and Executive Director, ONGC Green, told NDTV Profit.

It is key to note that this Rs 6,000 crore number is almost 9% of the oil explorer's standalone Ebitda in financial year 2024.

Growth Going Forward

Mazumder stated that the company's latest 100% acquisition of Ayana Renewable Power is a big one. He noted the acquired firm has a portfolio of 4.1 GW of operational and under construction assets. He also stated that the company has an Ebitda target of Rs 3,300 crore from the Ayana Renewable acquisition by FY27.

Mazumder also noted that the company has recently acquired PTC Energy as well, a company with wind energy capacity of 289 MW.

Going forward, Mazumder noted that ONGC Green will grow organically as well as inorganically. The company is also soon going to float a tender which includes 600 MW of solar energy and a component of 1200 MW of battery energy storage.

Investment By ONGC

ONGC, as a group, plans to invest Rs 1 lakh crore towards renewables by 2030, however, this investment will have a 75:25 debt to equity ratio.

This indicated that ONGC Green expects a total equity infusion of Rs 25,000 crore from its parent in coming years. ONGC has already infused a total of Rs 4,500 crore in ONGC Green in 2025 so far. Mazumder states that one could expect further equity infusion of the same amount.

Potential Listing

Mazumder stated that while a potential listing of the entity is not the plan in the short term, one can expect an announcement in coming years.

Also Read: ONGC Green Eyes M&A Route For 1 GW Capacity In FY26

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WRITTEN BY
Mihika Barve
Mihika Barve is a NISM Certified Research Analyst at NDTV Profit actively t... more
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