India’s s Oil & Natural Gas Corporation (ONGC) is planning to invest $12.09bn billion by 2030 on energy transition projects, aimed at achieving net zero carbon emissions by 2038, chief executive Arun Kumar Singh said.

The state-controlled company through the plan targets to boost its renewable energy generation capacity to 1GW by the end of this decade, up from a mere 189MW today, local media reported on Monday.