ONGC targets Rs 1 lakh--cr capacity addition
ONGC, India's top oil and gas explorer, plans to invest Rs 1 lakh crore by 2030 to increase its renewable energy capacity to 1 GW from 189 MW. The company aims to achieve net-zero carbon emissions by 2038. While India's fossil fuel demand is expected to rise until 2040, ONGC is committed to stepping up efforts for green energy. It is also exploring offshore wind farms and a green ammonia plant. ONGC produced 19.584 MT of oil in 2022-23, with projected increases in both oil and natural gas output in the coming years.