NTPC-ONGC Green JV Becomes Top Bidder for Ayana Renewable at $ 650 mn

18 Nov 2024 CW Team

A joint venture between India’s NTPC Green Energy and ONGC Green Energy was reported as the highest bidder for Ayana Renewable Power, having bid approximately $ 650 million, according to two individuals involved in the deal who spoke to Reuters.

The joint venture outbid JSW Energy for the renewable energy firm, which is backed by the quasi-sovereign wealth fund National Investment and Infrastructure Fund (NIIF).

Ayana Renewable Power, owned by NIIF, British International Investment Fund, and Green Growth Equity Fund, operates solar and wind plants generating 1,600 megawatts in India, with another 2,500 megawatts in projects under construction.

One of the sources shared that after due diligence, NTPC Green Energy and ONGC Green Energy had jointly decided to acquire a 100% stake in Ayana Renewable Power through their joint venture company.

NTPC, ONGC, and Ayana Renewable Power did not immediately respond to Reuters' inquiries.

NTPC Green Energy and ONGC Green Energy had signed an agreement in February of this year to form an equal joint venture.

Large power producers in India are significantly investing in renewables and have made commitments to expand their green energy capacities. The Indian government has pledged to add 500 gigawatts of clean energy by 2030 to reduce carbon emissions.

NTPC Green Energy, a subsidiary of the state-owned NTPC, is aiming for a valuation of up to $10.8 billion in an initial public offering (IPO) next week, which is expected to be India’s third-largest IPO of the year.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..