New delhi: ONGC-NTPC Green Pvt ltd, an equal joint venture between ongc green ltd and NTPC Green Energy Ltd, on WednsDay Signed a Share Purchase Agreement (Spa) to Acquire Ayana renewable power Pvt ltd at an enterprise value of $ 2.3 billion.
This is the second-largest account in the renewable space after the Adani green energy Ltd's Acquisition of SB Energy from Softbank Group and Bharti Group for $ 3.5 Billion all-Cash in 2021.
The signing of the spa marks the exit of Ayana's institutional backers National Investment and Infrastructure Fund (NIIF), British International Investment Plc (Biii) and Eversion Capital.
Ayana's Portfolio Consists of 4 Gigawats of Operational and Under-Construction Projects Spread Across Resource-Rich States that are Backed by offtakers suftakers , Public Sector Power Producer NTPC, Gujarat Urja Vikas Nigam Ltd and Indian Railways.
This is ONGC-NTPC Green's First Strategic Investment Since Its Inception in November 2024 and underlines the joint venture's committee to accepting energy. NGEL, The Green Energy Arm of NTPC, was listed in September last year.
The deal has its genesis in the net-zero vision of its parents-ONGC and NTPC-with a deadline of 2038 and 2050, Respectively. ONGC-NTPC Green Aim to Leverage Ayana's Platform for Further Expaniation and Growth in Renewable Space.
Niif has been played a Pivotal Role in Scaling Up Ayana as one of India's Premier Renewable Energy Platforms, Supporting The Government's Vishan for clean energy transition,
Establed by Bii in 2018, Ayana attracted investments from Niif and Eversource Capital in 2019, Expanding Its Portfolio Across Solar, Wind, Wind, and Round-The-the-Clock Ass Esg Rating, The Companies said in a Statement.
(Tagstotranslate) Business News (T) Renewable Energy Acquisition (T) ONGC-NTPC Green (T) NTPC Green Energy (T) Green Energy Investment (T) Clean Energy Transition (T) Ayana Renowable reen energy
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