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ONGPL has acquired a 100% stake in Ayana Renewable Power for ₹19,500 crore.

Economy Business | Dated: 17 Feb 2025

In February 2025, ONGC NTPC Green Private Limited (ONGPL), a 50:50 joint venture (JV) between Oil and Natural Gas Corporation (ONGC) Limited and National Thermal Power Corporation (NTPC) Limited, based in New Delhi (Delhi), made its first major investment. It acquired a 100% stake in Ayana Renewable Power Private Ltd, based in Bengaluru (Karnataka), for ₹19,500 crore (USD 2.3 billion).

🎯 Key Highlights:

  • - The Share Purchase Agreement (SPA) was signed during India Energy Week in New Delhi between ONGPL and Ayana's previous stakeholders: National Investment and Infrastructure Fund (NIIF) from Mumbai (Maharashtra), British International Investment Plc (BII) from London (UK) and its subsidiaries, and Eversource Capital, also based in Mumbai.
  • - This is the second-largest acquisition in India's renewable energy (RE) sector, following Adani Green Energy Limited's (AGEL) 2021 purchase of SoftBank's RE assets in India for ₹26,000 crore.

💡 Other Important Facts:

  • (i) The acquisition supports ONGC’s and NTPC’s goals to achieve net-zero emissions by 2038 and 2050, respectively. ONGPL plans to use Ayana's platform to expand further in the renewable energy sector.
  • (ii) Ayana Renewable Power currently has a portfolio of 4 gigawatts (GW) of operational and under-construction assets.

📚 Test Your Knowledge:

For how much amount has ONGPL recently acquired a 100% stake in Ayana Renewable Power recently?

Correct Answer: ₹19,500 crore

🚀 Quick Recap: