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

Designing Tomorrow: Amaravati’s Net Zero Landmark

Amaravati has achieved a defining landmark in India’s sustainable infrastructure journey with the inauguration of the APCRDA Project Office, the nation’s first government building to earn the IGBC Net Zero Energy Rating – Design Stage. Conceptualised by the Andhra Pradesh Capital Region Development Authority (APCRDA) and certified by the Indian Green Building Council (IGBC), the project exemplifies how governance, design and innovation can converge to deliver measurable environmental impact.A vision rooted in sustainabilitySet within a 4.3-acre site along the Seed Access Road in the Amar..

Next Story
Real Estate

Pidilite Elevates Construction with PPS

Pidilite Industries introduced Pidilite Professional Solutions (PPS) — a dedicated vertical for the construction and interiors ecosystem — at ACETECH Bengaluru 2025. Designed to empower architects, developers, contractors, and interior specialists, PPS delivers comprehensive support that extends far beyond products to ensure project excellence from concept to completion. Kavinder Singh, Joint Managing Director, Pidilite Industries, noted, “At Pidilite, we believe in enabling the construction fraternity to build boldly and sustainably. With Pidilite Professional Solutions (PPS),..

Next Story
Infrastructure Transport

Punjab, Centre Fast-Track Rajpura-Mohali Rail Line Development

The central government has fast-tracked the construction of the Rajpura-Mohali rail line to enhance connectivity in Punjab. This ambitious infrastructure project, aimed at improving transportation links between Rajpura and Mohali, has been identified as a key step in fostering regional economic growth. Union Minister for Railways, Ashwini Vaishnaw, announced the project’s acceleration during a recent assessment of the area. The rail line is expected to play a significant role in reducing travel time, promoting industrial growth, and boosting logistics efficiency in the region. The project,..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?