ONGC plans $24.2 bn investment to meet net zero emissions

ONGC is the largest oil and gas producer in India and is now swiftly scaling up its renewable capacity and aims to invest in multiple low-carbon projects. ONGC has 189 megawatts of electricity. The company is building a 5 GW solar energy project in Rajasthan and has laid down plans to set up offshore wind energy plants.

The company is also scouting for a partner to set up a 1 million tonnes per year green ammonia project.  The company has aligned itself with India’s ambitious goals to “curtail carbon emissions by 1 billion tonnes and simultaneously reduce carbon intensity by 45% by 2030”.