NTPC Green Energy shares fall over 1.6% after company acquires Ayana Renewable

“…we wish to inform that ONGC NTPC Green Private Limited (ONGPL), a 50:50 Joint Venture Company of NTPC Green Energy Limited and ONGC Green Limited, has completed the acquisition of a 100% equity stake in Ayana Renewable Power Private Limited on 27.03.2025,” the company said in a statement to the regulatory filing.

The acquisition was approved by the Competition Commission of India on March 11.

Following this, shares of NTPC Green Energy were trading 1.60% lower at ₹101.45 apiece on the National Stock Exchange.

Ayana will be a wholly owned subsidiary of ONGPL, which is a 50:50 joint venture of NGEL and ONGC Green Limited.

The total cost of acquisition is ₹6,248.50 crore at ₹23.22 per share. In this, NTPC Green’s share is ₹3,124.25 crore, i.e., 50%, which was funded as an equity contribution, it said.

The turnover of Ayana Renewable Power was ₹856.4 crore in FY24.

Through this acquisition via ONGPL, NTPC Green Energy Limited (NGEL) will expand its capacity in the renewable energy sector to meet its objective of 60 GW of renewable capacity by 2032.

Ayana is a renewable energy platform with a capacity of approx. 4112 MW (2123 MW of operational and 1989 MW of under-construction assets), strategically located across resource-rich states. Its portfolio is backed by high-credit-rated off-takers such as SECI, NTPC, GUVNL, and Indian Railways.

NTPC Green Energy is an umbrella company for the green business initiatives of NTPC and undertakes projects through organic and inorganic routes. It is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.

NTPC Green Energy had reported an 18% rise in consolidated net profit at ₹65.61 crore for the December quarter FY25, on account of higher income. It had logged a net profit of ₹55.61 crore in the year-ago quarter.

Total income rose to ₹581.46 crore from ₹463.46 crore in the corresponding period of the previous fiscal. Expenses were at ₹482.22 crore as against ₹383.28 crore.