CCI Clears ONGC-NTPC Green's ₹19,500 Crore Acquisition of Ayana
ONGPL acquires Ayana Renewable for ₹19,500 crore, adding 4.1 GW of green energy assets. This marks India's second-largest renewable sector deal.
The Competition Commission of India (CCI) has approved ONGC-NTPC Green Pvt Ltd's (ONGPL) ₹19,500 crore (USD 2.3 billion) acquisition of Ayana Renewable Power Pvt Ltd. ONGPL is a 50:50 joint venture between ONGC Green (OGL) and NTPC Green Energy Ltd (NGEL). With this deal, ONGPL will acquire a 100% equity stake in Ayana, which has 4.1 GW of operational and under-construction renewable assets across resource-rich states. This is the second-largest deal in India’s renewable energy sector, following Adani Green Energy’s USD 3.5 billion acquisition of SB Energy India in 2021.
