State-run ONGC is gearing up to launch an IPO for its green energy subsidiary, ONGC Green Ltd, in the next financial year 2025-26. The company's Director (Exploration), Sushma Rawat, mentioned that although the IPO is on the horizon, some preparations need to be made. ONGC has been diversifying into renewable energy sectors such as solar, wind, and green hydrogen to align with India's ambitious goal of achieving net zero by 2070. The company is set to invest around Rs 1 trillion by 2030 and aims to reduce carbon emissions significantly while expanding its renewable energy portfolio. The company is actively engaging in discussions with both domestic and international energy sector leaders for collaborations in renewables, green hydrogen, green ammonia, and other derivatives. ONGC Green is focusing on downstream integration and expanding its petrochemical business, foreseeing it as a profitable venture in the future. The company is also strategically acquiring renewable energy assets like PTC energy Limited, with a substantial wind generation capacity. ONGC Green is pursuing various projects in the green energy space, including offshore wind, storage, e-mobility, and green hydrogen. The company is also targeting the setup of 25 CBG plants by FY25 and has plans to increase its green energy portfolio through acquisitions and joint ventures. The government's push for public sector companies to list their green energy subsidiaries has influenced ONGC's decision to go public with ONGC Green Ltd, following in the footsteps of other energy players like NTPC.