Singularity AMC Invests $57.2M in Bhilwara Energy
POWER & RENEWABLE ENERGY

Singularity AMC Invests $57.2M in Bhilwara Energy

The Competition Commission of India (CCI) has approved ONGC-NTPC Green Pvt Ltd’s (ONGPL) proposal to acquire renewable energy firm Ayana Renewable Power Pvt Ltd for USD 2.3 billion.

ONGPL is a 50:50 joint venture between ONGC Green (OGL) and NTPC Green Energy Ltd (NGEL). The approval was confirmed through a post on X by the CCI, stating, “CCI approves the proposed combination involving the acquisition of Ayana Renewable Power Pvt Ltd by ONGC NTPC Green Pvt Ltd.”

Last month, ONGPL signed a share purchase agreement to acquire a 100% equity stake in Ayana. With approximately 4.1 GW of operational and under-construction assets located across resource-rich states, Ayana is considered a significant player in India’s renewable energy landscape.

This acquisition marks the second-largest deal in India’s renewable energy sector. The largest transaction remains Adani Green Energy’s (AGEL) acquisition of SB Energy India from SoftBank Group Corp and Bharti Group for USD 3.5 billion in October 2021.

The move aligns with India’s clean energy ambitions and showcases the growing interest in consolidating renewable energy assets under major players like ONGC and NTPC.

The Competition Commission of India (CCI) has approved ONGC-NTPC Green Pvt Ltd’s (ONGPL) proposal to acquire renewable energy firm Ayana Renewable Power Pvt Ltd for USD 2.3 billion. ONGPL is a 50:50 joint venture between ONGC Green (OGL) and NTPC Green Energy Ltd (NGEL). The approval was confirmed through a post on X by the CCI, stating, “CCI approves the proposed combination involving the acquisition of Ayana Renewable Power Pvt Ltd by ONGC NTPC Green Pvt Ltd.” Last month, ONGPL signed a share purchase agreement to acquire a 100% equity stake in Ayana. With approximately 4.1 GW of operational and under-construction assets located across resource-rich states, Ayana is considered a significant player in India’s renewable energy landscape. This acquisition marks the second-largest deal in India’s renewable energy sector. The largest transaction remains Adani Green Energy’s (AGEL) acquisition of SB Energy India from SoftBank Group Corp and Bharti Group for USD 3.5 billion in October 2021. The move aligns with India’s clean energy ambitions and showcases the growing interest in consolidating renewable energy assets under major players like ONGC and NTPC.

Next Story
Infrastructure Urban

ABB India Expands Local Production with New Line for Energy-Efficient Drives

ABB India has announced the expansion of its local manufacturing footprint with the launch of a new production line for variable speed drive (VSD) modules at its Peenya facility in Bengaluru. The new line enhances ABB’s local production capacity for drives by around 25 per cent, supporting the Government of India’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives.Equipped with state-of-the-art automation and digital monitoring technologies, the new line is designed to meet the rising demand for energy-efficient and high-performance drives across industries such as buildings, da..

Next Story
Infrastructure Urban

Aimtron Secures International IoT Order Worth $3.9 Million

Aimtron Electronics, one of India’s fastest-growing Electronics System Design and Manufacturing (ESDM) companies, has announced that it has secured a major international IoT order worth $3.946 million (approximately Rs 340.69 million) from a leading global client. The contract involves the manufacture and export of 200,000 IoT devices over the next 12 to 15 months.This order marks a significant milestone in Aimtron’s global expansion, underscoring its capability to deliver complete box-build IoT solutions that meet international quality standards. The deal is expected to strengthen the com..

Next Story
Infrastructure Urban

AAI Urges Govt to Check Rising Aluminium Imports

The Aluminium Association of India (AAI) has called on the Department for Promotion of Industry and Internal Trade (DPIIT) and the Ministry of Finance to take urgent measures to safeguard the country’s aluminium industry from escalating import dependence and market distortions. The association has warned that unchecked imports could lead to an impending aluminium shortage—similar to global concerns around critical and rare minerals—and derail over Rs 20 trillion of potential investments in India’s aluminium value chain.AAI has urged the government to increase the basic customs duty to ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?