ONGC NTPC Green Energy (ONGPL) has taken a significant step in India’s renewable energy sector by acquiring a 100% stake in Ayana Renewable Power. This deal, valued at $2.3 billion (Rs 19,500 crore), marks one of the biggest transactions in India’s clean energy space. ONGC aims to develop a renewable energy portfolio of 10 gigawatts (GW) by 2030, while NTPC targets 60 GW by 2032.
ONGPL, a 50:50 joint venture between the green energy subsidiaries of Oil and Natural Gas Corporation (ONGC) and NTPC, finalized the share purchase agreement on Wednesday. This acquisition is the JV’s first strategic investment since its formation in November last year. With this move, ONGC and NTPC are strengthening their commitment to India’s transition towards renewable energy.
Ayana Renewable Power, which has a substantial presence in India’s solar and wind energy markets, will now be fully owned by ONGPL. The deal positions ONGC and NTPC at the forefront of India’s clean energy push. The acquisition aligns with India’s ambitious renewable energy goals and enhances ONGC’s efforts to diversify beyond its traditional fossil fuel business.
This deal is expected to accelerate ONGC and NTPC’s renewable energy expansion plans. Ayana’s existing projects and development pipeline will provide ONGPL with an immediate boost in capacity. The company already operates a significant number of solar and wind power plants across India, and this acquisition strengthens its ability to execute large-scale renewable projects.
Industry experts see this acquisition as a sign of India’s increasing focus on clean energy investments. The government has been pushing for greater adoption of renewables, and ONGC’s and NTPC’s investment in Ayana is a major endorsement of this policy direction. The deal will also contribute to India’s commitment to achieving net-zero emissions by 2070.
With this acquisition, ONGC is taking a decisive step toward integrating renewable energy into its business strategy. The company has been exploring various clean energy initiatives, and the Ayana deal provides a significant foundation for its future projects. NTPC, which has already made considerable progress in renewable energy, will benefit from Ayana’s operational assets and expertise.
The acquisition is also expected to create job opportunities and stimulate local economies where Ayana’s projects are located. By scaling up renewable energy capacity, ONGC and NTPC are positioning themselves as key players in India’s clean energy transition. Investors have responded positively to the move, recognizing the long-term value of expanding into renewables.
ONGPL’s investment in Ayana also reflects the changing landscape of the global energy sector. With rising concerns over climate change and carbon emissions, traditional energy companies are diversifying into renewables. This deal places ONGC and NTPC alongside global energy giants that are aggressively expanding their clean energy portfolios.
The acquisition will enable ONGC and NTPC to leverage Ayana’s expertise in project development and execution. By integrating Ayana’s assets into ONGPL’s operations, the companies can fast-track the development of new renewable projects. The transaction is expected to be completed after regulatory approvals, paving the way for further collaborations in India’s renewable energy market.
ONGC and NTPC’s move to acquire Ayana comes at a time when India is witnessing rapid growth in renewable energy investments. The government’s focus on clean energy policies, favorable regulations, and financial incentives has attracted major players into the sector. ONGC and NTPC are now positioned to lead the country’s transition to sustainable energy sources.
This landmark deal underscores ONGC and NTPC’s commitment to building a greener future. By acquiring Ayana, they have not only expanded their renewable energy footprint but also reinforced their dedication to reducing carbon emissions. The acquisition will likely set the stage for further large-scale investments in India’s renewable energy space, solidifying the country’s role as a global leader in clean energy development.
ONGC and NTPC’s acquisition of Ayana Renewable Power also signals a shift in India’s energy investment patterns. With global energy markets moving toward sustainability, Indian companies are taking decisive steps to secure their place in the future of clean power. This transaction is expected to encourage other major public and private sector players to ramp up their renewable energy portfolios, leading to a more competitive and dynamic green energy sector.
The deal will likely have a ripple effect on the domestic supply chain for renewable energy projects. Increased investments in solar and wind power will boost demand for components such as photovoltaic panels, wind turbines, and battery storage solutions. This could further stimulate the local manufacturing industry, supporting India’s ‘Make in India’ initiative while reducing reliance on imported renewable energy equipment.
Financially, the acquisition strengthens ONGC and NTPC’s position in securing funding for future clean energy projects. With global investors prioritizing sustainability, the addition of Ayana’s assets makes ONGPL more attractive to institutional investors and green finance initiatives. This deal may open doors to new partnerships with international climate funds and multilateral financial institutions looking to invest in large-scale renewable infrastructure.
Furthermore, the integration of Ayana into ONGPL’s operations could lead to the development of innovative hybrid renewable energy projects. By combining solar and wind power generation with advanced battery storage technology, ONGC and NTPC could enhance grid stability and improve the reliability of renewable power supply. Such projects would be crucial for India’s energy security, reducing dependence on fossil fuels and mitigating the impact of fluctuations in power demand.
The strategic importance of this acquisition extends beyond energy generation. It aligns with India’s diplomatic and economic priorities, particularly in its commitment to global climate goals. By expanding its renewable energy footprint, India strengthens its credibility in international climate negotiations and reinforces its leadership role in global sustainability efforts. This deal serves as a testament to India’s long-term vision for a cleaner, greener future.
