ONGC-NTPC Green Energy JV Buys Ayana Renewable for Rs 195 Bn
POWER & RENEWABLE ENERGY

ONGC-NTPC Green Energy JV Buys Ayana Renewable for Rs 195 Bn

A joint venture between state-owned oil and gas explorer ONGC and thermal power company NTPC has acquired 100 per cent equity in Bengaluru-based Ayana Renewable Power for Rs 195 billion. This acquisition is a landmark as it represents the first major strategic investment by government-owned companies in India’s renewable energy sector. The announcement was made during the India Energy Week in New Delhi.

This transaction is the second-largest in the country’s renewable energy sector, following Adani Green Energy’s acquisition of SoftBank’s renewable energy assets in 2021 for Rs 260 billion. The acquisition was completed by ONGC-NTPC Green Energy (ONGPL), a joint venture of ONGC Green (OGL) and NTPC Green Energy (NGEL), which acquired shares from the National Investment and Infrastructure Fund (NIIF), British International Investment Plc (BII), and Eversource Capital.

Ayana Renewable Power, which currently has 4 gigawatts (GW) of operational and under-construction assets, was founded in 2018 by BII and later received investments from NIIF and Eversource Capital in 2019. ONGPL’s acquisition of Ayana marks its first strategic investment since its establishment in November 2024. This move aligns with the net-zero targets set by ONGC and NTPC for 2038 and 2050, respectively.

The acquisition is expected to support ONGPL’s goal of expanding its renewable energy footprint, with plans to utilize Ayana’s platform to meet India’s growing demand for clean energy. The transaction was advised by Deloitte Touche Tohmatsu India LLP and supported by JSA Advocates and Solicitors for legal counsel.

News source: Business Standard

A joint venture between state-owned oil and gas explorer ONGC and thermal power company NTPC has acquired 100 per cent equity in Bengaluru-based Ayana Renewable Power for Rs 195 billion. This acquisition is a landmark as it represents the first major strategic investment by government-owned companies in India’s renewable energy sector. The announcement was made during the India Energy Week in New Delhi. This transaction is the second-largest in the country’s renewable energy sector, following Adani Green Energy’s acquisition of SoftBank’s renewable energy assets in 2021 for Rs 260 billion. The acquisition was completed by ONGC-NTPC Green Energy (ONGPL), a joint venture of ONGC Green (OGL) and NTPC Green Energy (NGEL), which acquired shares from the National Investment and Infrastructure Fund (NIIF), British International Investment Plc (BII), and Eversource Capital. Ayana Renewable Power, which currently has 4 gigawatts (GW) of operational and under-construction assets, was founded in 2018 by BII and later received investments from NIIF and Eversource Capital in 2019. ONGPL’s acquisition of Ayana marks its first strategic investment since its establishment in November 2024. This move aligns with the net-zero targets set by ONGC and NTPC for 2038 and 2050, respectively. The acquisition is expected to support ONGPL’s goal of expanding its renewable energy footprint, with plans to utilize Ayana’s platform to meet India’s growing demand for clean energy. The transaction was advised by Deloitte Touche Tohmatsu India LLP and supported by JSA Advocates and Solicitors for legal counsel. News source: Business Standard

Next Story
Infrastructure Urban

LogiMAT India 2025 showcases 200+ Cutting-Edge Innovations

LogiMAT India 2025, showcased an impressive array of over 200 innovative products and cutting-edge technologies, set to transform India's thriving logistics sector. Groundbreaking solutions were unveiled at the event by industry pioneers such as Addverb, SICK India, Godrej Körber, Craftsman Automation, Godrej & Boyce, Tata Motors, Anscer Robotics, Armstrong Dematic, KION Group, Nilkamal Ltd., Ferag, Rubber King, Fronius, and many more. The show also spotlighted trailblazing innovations at the Startup Pavilion which was co-curated in partnership with Startup India. LogiMAT India 2025 provide..

Next Story
Infrastructure Urban

ACREX India Opens with a Strong Industry Focus on Sustainability

ACREX India, the premier exhibition spotlighting the latest technological advancements and a comprehensive range of HVAC supply chain innovations, commenced at the Bangalore International Exhibition Centre (BIEC), Bengaluru. Organised by ISHRAE in collaboration with Informa Markets in India, the three-day event serves as a crucial platform for domestic and international manufacturers to engage with government officials, industry leaders, and key stakeholders. This year’s edition is expected to an impressive gathering of over 30,000 visitors and features a diverse showcase by more than 500 ex..

Next Story
Infrastructure Urban

Rosatom Scientists Patent Tech for Separating Radium, Actinium, Thorium

The technology developed by nuclear scientists has enabled the production of actinium-225 that has a wide application in atomedics. Specialists from the Department of Radionuclide Sources and Preparations at the Research Institute of Nuclear Reactors, State Scientific Centre (RIAR JSC belongs to Rosatom’s Scientific division) have obtained a patent for the technology of producing an actinium-225-based radioactive preparation. Due to its unique properties, the isotope is deemed promising for use in the nuclear medicine and cancer therapy. The production technology ensures the product's high ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?