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ONGC-NTPC JV seals ₹6,600 cr Ayana deal
Mint Ahmedabad
|February 13, 2025
The sale will rank among the largest deals in India's green energy space
NGC NTPC Green Pvt. Ltd (ONGPL) signed a deal on Wednesday to buy National Investment and Infrastructure Fund Ltd (NIIF)-backed Ayana Renewable Power Pvt. Ltd for an equity value of ₹6,600 crore, two people aware of the development said.
The Bengaluru-headquartered Ayana Renewable is majority-owned by NIIF. Its other shareholders include the UK government's British International Investment (BII) and Eversource Capital that have invested $1 billion in the business. While BII launched Ayana in 2018, NIIF and Eversource invested in it in 2019.
This story is from the February 13, 2025 edition of Mint Ahmedabad.
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