The Competition Commission of India (CCI) has approved the proposed acquisition of Ayana Renewable Power Private Limited by ONGC-NTPC Green Private Limited. Under this deal, ONGC-NTPC Green will acquire 100% of the equity share capital of Ayana Renewable Power.
ONGC-NTPC Green Private Limited is a joint venture between ONGC Green Limited and NTPC Green Energy Limited. Both parent companies are wholly owned subsidiaries of Oil and Natural Gas Corporation Limited (ONGC) and NTPC Limited, respectively. Currently, ONGC NTPC Green is not engaged in any business activities.
Ayana Renewable Power, along with its affiliates, operates in the power sector in India. Its main areas of business include the generation of electricity through renewable energy sources and the transmission of power. This acquisition is expected to strengthen ONGC and NTPC’s position in the renewable energy sector, supporting India’s transition towards clean energy solutions.
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