The Oil and Natural Gas Corporation (ONGC) has announced plans to invest approximately ₹2 lakh crore in renewable energy projects and green hydrogen facilities as part of its mission to achieve net-zero carbon emissions by 2038. By 2030, ONGC will invest ₹97,000 crore in establishing five GW of renewable energy capacity, green hydrogen, biogas, pump storage plants, and offshore wind projects. An additional ₹65,500 crore will be allocated by 2035, focusing on green hydrogen and green ammonia plants, with the final ₹38,000 crore earmarked for offshore wind projects by 2038. These initiatives aim to reduce the firm's scope-1 and scope-2 carbon emissions by nine million tons. ONGC also plans to spend ₹5,000 crore to eliminate gas flaring by 2030 through advanced technologies. They intend to invest ₹30,000 crore in setting up five GW of solar parks and an additional ₹10,000 crore by 2035 and 2038 to add one GW each of solar and onshore wind capacity. ONGC looks to install offshore wind turbines in the Arabian Sea and Bay of Bengal, generating 0.5 GW of electricity by 2030 and doubling this capacity by 2035. The company projects a ₹12,500 crore cost for the initial 0.5 GW offshore wind project, with additional investments planned for future expansions. ONGC aims to invest ₹20,000 crore in developing three GW of pump storage plants for energy needs, along with other investments in biogas, carbon capture, and various clean energy projects.