Reuters: ONGC to Acquire Up to 3 GW Renewable Projects by 2030

Oil and Natural Gas Corp (ONGC) of India is strategically expanding its renewable energy portfolio with plans to acquire 2.5 to 3 gigawatts (GW) of renewable energy projects by 2030. Executive Director Satyan Kumar announced in New Delhi on Wednesday that this initiative is integral to the company's growth strategy in the clean energy sector. This acquisition will significantly augment ONGC's existing renewable energy capacity, currently at approximately 2.5 GW. In parallel with its renewable energy endeavors, ONGC is actively pursuing long-term agreements to import 3 million tons of liquefied natural gas (LNG) annually. Kumar indicated that the company expects to finalize several of these import contracts within the next year. This dual strategy reflects ONGC's commitment to both diversifying its energy assets through renewable sources and ensuring a reliable natural gas supply for its operations and market demands. The details of these plans were disclosed by Executive Director Satyan Kumar in his remarks to reporters.