The Competitors Fee of India (CCI), the nation’s truthful commerce regulator, has given the nod to an ONGC-NTPC Inexperienced proposal to accumulate Ayana Renewable Energy for Rs 19,500 crore. The acquisition entails ONGPL wholly-owning Ayana Renewable Energy. At the moment, ONGC-NTPC Inexperienced is a 50:50 three way partnership between ONGC Inexperienced and NTPC Inexperienced Vitality, in keeping with CCI.
The competitors watchdog took to microblogging website X (previously Twitter) to verify the event.
In January, ONGPL signed a share buy settlement (SPA) to accumulate 100 per cent in Ayana.
Ayana’s current shareholders Nationwide Funding and Infrastructure Fund (51 per cent), British Worldwide Funding Plc (BII) and its subsidiaries (32 per cent), and Eversource Capital (17 per cent) signed the deal.
The whole transaction worth stands at $2.3 billion (roughly Rs 19,500 crore).
What’s Ayana and what does it do?
Ayana is a key participant within the home renewable power sector. It manages a portfolio of roughly 4.1 GW of operational and under-construction tasks throughout high-resource states. It additionally has round 3 GW in growth, spanning photo voltaic, wind, hybrid, and round the clock (RTC) renewable property underneath agency energy buy agreements.
The corporate plans to fee 300 MW of photo voltaic and 140 MW of wind capability in FY25, with the remaining tasks anticipated to be accomplished in 2025-26 and 2026-27.
India’s sovereign-linked asset supervisor, NIIF oversees $4.4 billion in fairness commitments, whereas British growth finance establishment BII helps sustainable development in rising markets.
Eversource Capital, managing one of many largest local weather funds in growing economies, invests in power transition, industrial decarbonisation, and concrete sustainability.
About ONGPL
ONGC-NTPC Inexperienced Pvt Ltd (ONGPL) is a 50:50 three way partnership between ONGC Inexperienced (OGL) and NTPC Inexperienced Vitality Ltd (NGEL).
OGL and NGEL function as wholly-owned subsidiaries of Oil and Pure Fuel Company Ltd (ONGC) and NTPC Ltd, respectively.
OGL focuses on photo voltaic, wind, and power storage tasks. Then again, NGEL leads NTPC’s renewable power development, focusing on 60 GW of capability by 2032.
