ONGPL's Strategic Acquisition: Powering Towards Renewable Goals

ONGC NTPC Green Pvt Ltd has acquired 100% equity in Ayana Renewable Power for Rs 6,248.50 crore to boost its renewable capacity. The joint venture of NTPC Green Energy and ONGC Green aims for 60 GW by 2032. Ayana, with 4,112 MW capacity, enhances this strategic expansion.

ONGC NTPC Green Pvt Ltd (ONGPL) has finalized the acquisition of Ayana Renewable Power, marking a significant step in their renewable energy expansion.

This strategic move, completed for Rs 6,248.50 crore, involves a collaboration between NTPC Green Energy Ltd (NGEL) and ONGC Green Ltd, each sharing the financial commitment equally.

Ayana's robust portfolio, backed by major offtakers, positions ONGPL to reach its ambitious 60 GW renewable energy target by 2032, reinforcing its presence in the green energy sector.

(With inputs from agencies.)