Mega Deal: ONGC-NTPC Green's Strategic Acquisition of Ayana Renewable

The Competition Commission of India has approved the acquisition of Ayana Renewable Power by ONGC-NTPC Green for Rs 19,500 crore. This substantial deal marks the second largest in renewable energy, following Adani Green Energy's acquisition of SB Energy India. Ayana boasts a robust portfolio of 4.1 GW assets.

In a groundbreaking move for the renewable energy sector, the Competition Commission of India sanctioned ONGC-NTPC Green's hefty Rs 19,500 crore acquisition of Ayana Renewable Power.

The venture, a 50:50 partnership between ONGC Green and NTPC Green Energy, now gains strategic assets strengthening their presence in resource-abundant states.

This acquisition marks the second-largest deal in the industry, only surpassed by Adani Green's 2021 purchase of SB Energy India for $3.5 billion.

(With inputs from agencies.)