ONGC NTPC Green Pvt Ltd (ONGPL) has successfully completed the acquisition of a 100% equity stake in Ayana Renewable Power for a total consideration of Rs 6,248.50 crore. ONGPL is a 50:50 joint venture between NTPC Green Energy Ltd (NGEL) and ONGC Green Ltd.

The acquisition was successfully completed on March 27 for a cash consideration of Rs 6,248.50 crore, with each share valued at Rs 23.22, as stated by NGEL in an exchange filing. The Competition Commission of India granted its approval for the transaction on March 11, 2025.

NGEL contributed 50%, amounting to Rs 3,124.25 crore, towards the total acquisition cost. With this acquisition, NGEL aims to strengthen its position in the renewable energy sector and work towards its goal of achieving 60 GW of renewable capacity by 2032.

Ayana, a prominent renewable energy platform, boasts a capacity of approximately 4,112 MW, comprising 2,123 MW of operational capacity and 1,989 MW under construction. Strategically located across resource-rich states, Ayana’s portfolio is supported by high-credit-rated offtakers, including SECI, NTPC, Gujarat Urja Vikas Nigam Ltd (GUVNL), and Indian Railways. In the fiscal year 2023-24, Ayana achieved a turnover of Rs 856.4 crore.