ONGC Plans $12 Billion Green Energy Spend
India’s Oil and Natural Gas (ONGC) aims to invest Rs 1 trillion ($12.1 billion) by 2030 in a bid to balance its fossil fuel-heavy energy portfolio with green projects.
The state-controlled driller that produces more than half the nation’s oil and gas plans to grow its renewable power portfolio to 10,000 megawatts by 2030 from 189 megawatts at the end of March, Chairman Arun Kumar Singh said during a press briefing Monday in Mumbai. It will also focus on using clean energy to produce ammonia and other technologies that can offer around-the-clock generation.
Photo courtesy of Zbynek Burival.