Acquisitions28 Mar 2025, 05:17 am
ONGC Invests ₹ 3,300 Crore in Wholly Owned Subsidiary and Acquires Ayana Renewable Power for ₹ 6,248.50 Crore
AI Summary
Oil and Natural Gas Corporation Ltd (ONGC) has made a ₹ 3,300 Crore investment in equity shares of its wholly owned subsidiary, ONGC Green Limited (OGL). The investment proceeds were utilized by OGL for a further investment of ₹ 3,152.50 Crore in equity shares of ONGC NTPC Green Private Limited (ONGPL), a 50:50 joint venture company of OGL and NTPC Green Energy Limited. ONGPL has also completed the acquisition of 100% equity stake in Ayana Renewable Power Private Limited (Ayana) for ₹ 6,248.50 Crore. Ayana, a leading Renewable Energy platform, has approximately 4.1 GW of operational and under-construction assets.
Key Highlights
- ONGC invests ₹ 3,300 Crore in its wholly owned subsidiary, ONGC Green Limited
- ONGC Green Limited further invests ₹ 3,152.50 Crore in ONGC NTPC Green Private Limited
- ONGC NTPC Green Private Limited acquires 100% equity stake in Ayana Renewable Power Private Limited for ₹ 6,248.50 Crore
- Ayana has approximately 4.1 GW of operational and under-construction assets
- Ayana's portfolio is backed by high-credit-rated off-takers such as SECI, NTPC, GUVNL, and Indian Railways