- Oil & Natural Gas Corporation Limited (ONGC) announced on 17 July 2026 the successful completion of two deep geothermal wells, GT #02 and GT #03, at the Puga Geothermal Project in Ladakh.
- The wells constitute India’s first demonstration‑scale geothermal power project, enabling round‑the‑clock clean electricity in a remote, high‑altitude region.
- A five‑year collaboration (renewed June 2026) between ONGC Energy Centre, the Union Territory Administration of Ladakh and LAHDC‑Leh underpins the project’s energy‑security and carbon‑neutral objectives.
- Officials highlighted broader socio‑economic gains: reliable winter power, space heating, greenhouse cultivation, food processing and geotourism, supporting Ladakh’s carbon‑neutral target.
- The completed wells are positioned as a cornerstone for expanding India’s geothermal capacity and advancing the nation’s Net‑Zero, low‑carbon energy transition.
ONGC's completion of two geothermal wells is likely to be seen as a positive step into clean energy, nudging the share price slightly higher. The move aligns with India's net‑zero goals and could add a new revenue stream, but the impact will be modest.
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Forecast from comparable, historic events. Not investment advice.
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