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As India raised it green energy target to 900 gigawatts (GW) by 2032 from 500 GW by 2030, leading public sector energy companies like ONGC, NTPC, GAIL and oil marketing companies like IOC,

BPCL and HPCL are taking the lead in energy transition with huge capacity addition plans.

State-owned oil and gas explorer Oil and Natural Gas Corporation (ONGC) is investing Rs 3,500 crore alone in this fiscal year to expand its green energy capacity. Plans are to have 10 GW by

2030. ONGC NTPC Green, a 50:50 joint venture of NTPC Green Energy and ONGC Green, recently completed the acquisition of the Ayana Renewable company with 4.1 GW capacity for Rs 6248 crore.  

Earlier, ONGC Green had acquired PTC Energy's 288 MW wind farms for Rs 925 crore.

India's largest power producer, NTPC, through its green energy subsidiary NTPC Green Energy (NGEL), aims to have a renewable portfolio of 60 GW capacity by 2032. Currently, it has 6 GW

installed capacity and an additional 12 GW under implementation. NGEL also has big plans in green hydrogen, battery storage, and other renewable energy forms. NGEL and NREDCAP, the renewable

arm of the Government of Andhra Pradesh, is setting up the first Green Hydrogen Hub under the National Green Hydrogen Mission at Pudimadaka near Visakhapatnam. Plans are to develop  20 GW

RE projects at the hub, with 1500 TPD Green Hydrogen and 7500 TPD Green Hydrogen derivatives (including Green Methanol, Green Urea and Sustainable Aviation Fuel), making it one of India’s

largest integrated green hydrogen production facilities. The project is expected to attract Rs 1,85,000 crore investment and will have a manufacturing facility, a green chemical zone, a

chemical storage terminal, port infrastructure, a transmission corridor, a 7 GW substation, an 80 MLD desalination plant, an effluent treatment plant, and other facilities. Further, NTPC is

also planning to develop  25 GW of renewable energy projects in Rajasthan.  

State-run leading oil refiner Indian Oil Corporation (IOC) is immediately investing Rs 1086 crore in its two-year-old subsidiary, Terra Clean, to develop 4.3 gigawatt (GW) of renewable

capacity, in addition to the one GW RE capacity planned earlier. Currently, IOC already has an RE capacity of 238 MW. Plans are to reach 31 GW of renewable capacity by 2030, which will also

include biofuels, carbon capture and green hydrogen.

Bharat Petroleum Corporation (BPCL), India’s second-largest oil marketing company, plans to develop 10 GW of renewable energy capacity by 2040. Recently, it awarded two contracts to set up

wind farms of 50 MW each to power its refineries in Mumbai and Bina, Madhya Pradesh.

State-owned HPCL is set to invest up to Rs 50,000 crore to boost its renewable energy portfolio to 10 GW by 2030, through its subsidiary HPCL Renewable & Green Energy Limited (HPRGE). The

company aims for 1 GW capacity by 2025-26 and is establishing solar power plants and a biofuel portfolio.  

National energy carrier GAIL (India) Ltd, which is planning to develop 3 GW of renewable energy capacity by 2030, has already commissioned its first green hydrogen facility in Vijaipur,

Madhya Pradesh. GAIL and private sector AM Green, a subsidiary of the AM Green Group promoted by Greenko founders, are jointly developing renewable energy of up to 2.5 GW and green chemical

projects. GAIL has also teamed up with Cummins for hydrogen and energy transition projects.

Another state-owned oil and gas firm Oil India Limited (OIL) has formed a subsidiary Oil Green Energy, to pursue RE projects, including geothermal, wind, hydro, solar, tidal, and waste

energy. Plans are to spend Rs 25,000 crore in near future, including in ethanol plants.

Similarly, Coal India, which is planning to have 3 GW of renewable power, has teamed up with companies like KPI Green Energy, AM Green and Enerture Technologies to develop RE projects. Its

subsidiary NLC India already has over one GW of RE installed capacity.

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