ONGC NTPC Green Private Limited has received approval to acquire Ayana Renewable Power Private Limited from the Competition Commission of India (CCI). The transaction involves the complete acquisition of Ayana Renewable Power’s 100% equity share capital.
ONGC NTPC Green Private Limited, the acquiring entity, is a newly formed joint venture between ONGC Green Limited and NTPC Green Energy Limited. Currently, it is not engaged in any business operations. ONGC Green Limited is a wholly owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC), while NTPC Green Energy Limited is fully owned by NTPC Limited.
Ayana Renewable Power, along with its affiliates, operates in India’s power sector, focusing on renewable energy generation and power transmission. The company has been actively expanding its footprint in solar and wind energy, contributing to India’s clean energy transition.
The approval from CCI indicates that the acquisition does not pose any competition concerns and aligns with the regulatory framework. However, a detailed order from the Commission is expected to follow, providing further insights into the transaction.
The move aligns with India’s broader push towards renewable energy, as state-backed enterprises like ONGC and NTPC continue to invest in green power solutions. The acquisition of Ayana Renewable Power is expected to enhance ONGC and NTPC’s clean energy portfolio, strengthening their position in the renewable energy sector.
With increasing government support for sustainable energy, the deal is anticipated to drive further investments in India’s renewable energy landscape.
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