ONGPL inks deal for 100% acquisition of Ayana Renewable Power
The renewable energy platform has over 4 GW of assets across India.
ONGC NTPC Green Private Limited (ONGPL) has signed a share purchase agreement to acquire 100% equity stake in Ayana Renewable Power Private Limited for $2.3b.
Ayana has approximately 4.1 GW of operational and under-construction assets located across various Indian states.
ONGPL said it will leverage Ayana’s platform for further expansion and growth.
This acquisition marks ONGPL’s first strategic investment since its inception in November 2024. It also aligns with the broader vision of its parent companies—ONGC and NTPC—to achieve net-zero targets by 2038 and 2050, respectively.
The completion of this transaction is subject to regulatory approvals and fulfilment of conditions precedent.
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