ONGC-NTPC Green JV Acquires Ayana Renewable for ₹19,500 Crore

ONGC NTPC Green Private Limited (ONGPL), a 50:50 joint venture between ONGC Green Limited and NTPC Green Energy Limited, has signed an agreement to acquire 100% stake in Ayana Renewable Power for ₹19,500 crore ($2.3 billion). Ayana, backed by National Investment and Infrastructure Fund (NIIF), has approximately 4.1 GW of operational and under-construction renewable energy assets. This acquisition marks ONGPL’s first strategic investment since its formation in November 2024, accelerating its expansion into the renewable energy sector. The deal aligns with ONGC and NTPC’s vision to achieve their Net Zero targets by 2038 and 2050 respectively. The transaction is subject to regulatory approvals and is expected to propel India’s transition to a low-carbon economy.

Source: Fortune India