Page 143 - CW E-Magazine (25-2-2025)

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ENERGY TRANSITION

ONGC-NTPC Joint Venture to acquire Ayana Renewable

Power for $2.3-bn

ONGC NTPC Green Pvt. Ltd.
(ONGPL), the 50:50 joint venture
between ONGC Green Ltd. (OGL) and
NTPC Green Energy Ltd. (NGEL), has
agreed to acquire 100% equity stake
in Bengaluru-based Ayana Renewable
Power Pvt. Ltd., which has approxi-
mately 4.1-GW of operational and
under-construction assets.

The agreement was signed with
National Investment and Infrastructure
Fund (NIIF), British International Invest-
ment Plc (BII) and its subsidiaries, and
Eversource Capital. The transaction is
valued at Rs. 19,500-crore ($2.3-bn). The
deal marks the fi rst strategic investment accelerating India’s transition to a low- Gupta, CEO, NGEL, added. Ayana was
by government-owned companies in India’s carbon economy, leveraging our techni- founded by BII in 2018 and later received
renewable energy sector and was made cal expertise, industry relationships, and investments from NIIF and Eversource
at the ‘India Energy Week’ in New Delhi. fi nancial strength,” Mr. Sanjay Kumar Capital in 2019. Mr. Srini Nagarajan,
Mazumder, CEO, OGL, said. Managing Director and head of Asia at
ONGPL said the deal aligns with the BII, said, “BII launched Ayana in 2018
broader vision of its parent companies – “The acquisition also aligns with to catalyse India’s renewable energy sec-
ONGC and NTPC – to achieve net-zero NGEL’s mission of achieving the ambi- tor. Having mobilised over $1-billion in
targets by 2038 and 2050, respectively. tious target of 60-GW by FY32 and mov- capital alongside NIIF and Eversource,
ONGPL will now leverage Ayana’s plat- ing forward to become one of the lead- we are proud of Ayana’s achievements
form for further expansion and growth. ing developers of utility-scale renewable and excited for its future under ONGPL’s
“This acquisition propels us forward in energy projects in the country,” Mr. Rajiv leadership.”

CHEMICALS DISTRIBUTION

IMCD inaugurates Sample Fulfi lment Centre

near Mumbai

Chemicals distribution company, Materials and Lubricants & Energy. enhance effi ciency and effectiveness of
IMCD, has inaugurated a dedicated “This initiative refl ects IMCD’s com- our operations, by building our capa-
Sample Fulfi lment Centre near Mumbai, mitment to driving commercial and city to manage large sample volumes
established through a strategic third-party operational excellence while enhanc- with improved response time. This new
partnership. ing customer experience,” the company 3PL managed facility exemplifi es our
said in a social media post. focus on delivering innovative, custo-
The Sample Fulfilment Centre mer-centric solutions and is a demon-
caters to diverse business segments, “As part of our growth strategy, stration of our ongoing commitment
including Pharmaceuticals, Food & we are consolidating all our sampling to strengthening relationships with our
Nutrition, Beauty & Personal Care, operations into a single, centralized partners,” said Mr. Narendra Varde,
Coatings & Construction, Advanced location. This streamlined approach will Managing Director, IMCD Group.

Chemical Weekly February 25, 2025 143

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