Solar Energy In India

ONGC will evaluate specific technology options and subsequently buy/partner for appropriate technology. Given the uncertain nature of the solar market (expectations on thin-film market growth have become more conservative within 2 years), ONGC will cautiously pursue these investments ensuring appropriate due diligence. Assuming that India is expected to reach grid parity in another 10 to 15 years, ONGC will build capabilities to succeed as a solar developer in the short to medium term, and look to grow rapidly as a developer to target around 1.5 GW solar energy capacity by 2030.