On March 27, 2025, ONGC NTPC Green Private Limited (ONGPL), a joint venture of NTPC Green Energy Limited (NGEL) and ONGC Green Limited (OGL), completed the acquisition of Ayana Renewable Power Private Limited (Ayana). This move is part of ONGC NTPC Green’s efforts to strengthen its position in the growing renewable energy sector.

Overview of the Acquisition

The acquisition was completed with ONGPL securing 100% equity in Ayana Renewable Power, a leading player in the renewable energy industry. Ayana has an extensive portfolio of approximately 4.1 GW, comprising both operational and under-construction assets. The acquisition is strategic, enhancing ONGC NTPC Green’s capabilities in the solar, wind, and hybrid energy sectors.

Key Highlights of Ayana’s Portfolio

Ayana’s assets are strategically located across resource-rich states in India, and its portfolio is supported by high-credit-rated off-takers such as SECI, NTPC, GUVNL, and Indian Railways. The company’s renewable energy capacity is set to play a crucial role in India's transition to cleaner energy sources.

• Operational Assets: 2,123 MW.

• Under-Construction Assets: 1,989 MW. This combination allows Ayana to maintain a strong position in India's renewable energy market.

Strategic Importance of the Acquisition

Through this acquisition, NTPC Green Energy Limited aims to expand its renewable energy footprint significantly. The company has set ambitious targets for the future, with plans to achieve 60 GW of renewable energy capacity by 2032. This acquisition will contribute significantly to meeting that goal.

The acquisition was finalized after obtaining approval from the Competition Commission of India (CCI) on March 11, 2025, and involved a cash consideration of ₹6,248.50 crore, with both NTPC Green Energy Limited and ONGC Green Limited contributing equally to the deal.

Financial Details

The acquisition price was set at ₹23.22 per share, with the total cost of acquisition being ₹6,248.50 crore. This figure represents the combined stake of both the joint venture partners, with each contributing 50% to the overall cost. The turnover of Ayana for FY’24 was ₹856.4 crore, demonstrating a solid track record in the renewable energy industry.

Future Impact and Growth Potential

By acquiring Ayana, ONGC NTPC Green is well-positioned to capitalize on the fast-growing renewable energy market. The company's goal of reducing carbon footprints and achieving sustainable energy goals aligns with the strategic nature of this acquisition. The deal enhances their ability to provide clean and reliable energy while expanding their business in the renewable energy space.

Conclusion

This acquisition marks a significant milestone for ONGC NTPC Green Private Limited in its quest to become a leading player in India’s renewable energy sector. With Ayana’s strong operational assets and a promising pipeline of projects, ONGPL is set to play a pivotal role in India’s energy transition.

The Current active IPO are Aten Papers & Foam Limited, Infonative Solutions Limited,Spinaroo Commercial Limited,Retaggio Industries Limited,Identixweb Limited.

The Closed IPOs are  ATC Energies System Limited, Shri Ahimsa Naturals Limited, Desco Infratech Limited

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.