(Construction World)
ONGC NTPC Green Pvt Ltd (ONGPL) has completed the Rs 62.5 billion acquisition of Ayana Renewable Power, securing a 100% equity stake. The 50:50 joint venture between NTPC Green Energy Ltd (NGEL) and ONGC Green Ltd finalized the deal.
NGEL contributed Rs 31.2 billion toward the acquisition, aligning with its goal to achieve 60 GW of renewable capacity by 2032.
Ayana, a key player in India’s green energy sector, has a 4,112 MW portfolio, with 2,123 MW operational and 1,989 MW under construction. Its projects are backed by high-credit-rated buyers, including SECI, NTPC, GUVNL, and Indian Railways.
In FY24, Ayana reported a Rs 8.6 billion turnover.
