Oil & Natural Gas Corporation Limited — Updates, 12-02-2025: Press Release

ONGC NTPC Green Private Limited (ONGPL) has signed a Share Purchase Agreement to acquire a 100% equity stake in Ayana Renewable Power Private Limited for INR 19,500 crore (USD 2.3 billion). This acquisition gives ONGPL access to Ayana’s approximately 4.1 GW of operational and under-construction renewable energy assets, enhancing its portfolio and aligning with the clean energy goals of its parent companies, ONGC and NTPC. Ayana, with strong backing from high-credit-rated off-takers such as SECI and Indian Railways, marks ONGPL’s first investment since its inception, showcasing a commitment to accelerate India's transition to a low-carbon economy. The deal, subject to regulatory approvals, positions ONGPL to leverage Ayana's platform for future growth in India's renewable sector, which is vital for achieving the country’s target of 500 GW of renewable capacity by 2030. Investors should note this transformative step as it signals potential growth opportunities within a dynamic clean energy market.