CCI clears ONGC-NTPC Green's proposal to acquire Ayana for Rs 19,500 cr

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CCI clears ONGC-NTPC Green's proposal to acquire Ayana for Rs 19,500 cr - Business Standard

Quick Summary:

The Competition Commission of India on Tuesday cleared ONGC-NTPC Green's proposal to acquire renewable energy firm Ayana for Rs 19,500 crore (USD 2.3 billion).

"CCI approves the proposed combination involving the acquisition of Ayana Renewable Power Pvt Ltd by ONGC NTPC Green Pvt Ltd," the Competition Commission of India (CCI) said in a post on X.

Adani Green Energy (AGEL) in October 2021 acquired SB Energy India from SoftBank Group Corp (SBG) and Bharti Group in an all-cash deal worth USD 3.5 billion.