Green Giant Leap: CCI Approves ONGC-NTPC's $2.3B Ayana Acquisition

The Competition Commission of India (CCI) has approved ONGC-NTPC Green's ₹19,500 crore (USD 2.3 billion) acquisition of Ayana Renewable Power.

ONGC-NTPC Green (ONGPL), a 50:50 joint venture between ONGC Green (OGL) and NTPC Green Energy (NGEL), announced last month that it had signed a share purchase agreement to acquire a 100% equity stake in Ayana.

Ayana is a leading renewable energy platform with approximately 4.1 GW of operational and under-construction assets across resource-rich states. This deal is the second-largest in India's renewable energy sector.

News by Rahul Yelligetti.