ONGC NTPC Green Seeks CCI Nod for Ayana Renewable Power Acquisition.

ONGC NTPC Green Private Limited has approached the Competition Commission of India (CCI) for approval to acquire a 100% equity stake in Ayana Renewable Power Private Limited, marking a significant move in India’s renewable energy sector.

The deal, filed under Section 5(d) of the Competition Act, 2002, involves the acquisition of shares, voting rights, and control of Ayana Renewable Power. If approved, it will strengthen ONGC NTPC Green’s position in India’s growing clean energy market.

Key Players in the Deal

ONGC NTPC Green is a joint venture between ONGC Green Limited and NTPC Green Energy Limited, subsidiaries of Oil and Natural Gas Corporation Limited (ONGC) and NTPC Limited, respectively. While the acquiring entity is not yet operational, its parent firms are major players in India’s energy industry, engaged in oil and gas exploration, power generation (renewable and non-renewable), and power transmission.

Ayana Renewable Power, the acquisition target, is a key renewable energy player, focused on solar and wind power generation and power transmission. The acquisition aligns with India’s push for cleaner energy solutions and the government’s goal of accelerating renewable energy capacity.

Regulatory Considerations & Market Impact

The CCI filing identifies competitive areas, including overall power generation, renewable energy, solar and wind power, and transmission. Despite potential overlaps, the companies argue that the deal does not raise competition concerns, suggesting a smooth regulatory approval process.

The move is part of a larger trend of public sector enterprises consolidating their renewable energy assets to align with India’s sustainability goals. Both ONGC and NTPC, traditionally focused on fossil fuel-based energy, are rapidly expanding their renewable energy portfolios.

If cleared by the CCI, the acquisition will position ONGC NTPC Green as a key player in India’s clean energy transition, leveraging the expertise and financial strength of two of the country’s largest energy firms. The decision is expected to be a major milestone in India’s efforts to scale up renewable energy infrastructure and reduce carbon emissions.

HBL