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ONGC approves ₹3,300 crore investment in ONGC Green to acquire Ayana Renewable Power. The deal is executed through a 50:50 JV with NTPC Green Energy. ONGC share price dips by 0.64%
Oil and Natural Gas Corporation Ltd (ONGC), India’s state-owned energy major, has announced a significant investment of ₹3,300 crore in its wholly owned subsidiary, ONGC Green Limited (OGL). The investment will be made through a rights issue to fund the acquisition of a 100% equity stake in Ayana Renewable Power Private Limited. The acquisition will be executed via ONGC NTPC Green Private Limited (ONGPL), a 50:50 joint venture between OGL and NTPC Green Energy Limited (NGEL). Ayana Renewable Power, a prominent renewable energy platform, holds 4.1 GW of operational and under-construction assets strategically positioned across resource-rich states.
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ONGC to invest ₹3,300 crore in ONGC Green for acquiring Ayana Renewable Power.
The acquisition will be carried out through a 50:50 joint venture with NTPC Green Energy.
Ayana Renewable Power has 4.1 GW of operational and under-construction assets.
ONGC Videsh to invest ₹1,500 crore in the Mozambique LNG project.
ONGC share price closed at ₹242.20, down by 0.64% on the BSE.
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The investment of ₹3,300 crore will be made through a rights issue, aimed at strengthening ONGC’s renewable energy portfolio. The acquisition will expand ONGC's green energy footprint through Ayana Renewable Power’s extensive 4.1 GW asset base, including both operational and under-construction projects. The investment aligns with ONGC’s strategic vision to support India’s clean energy transition by diversifying its energy portfolio.
Investment Details | Amount |
Investment in ONGC Green Limited (OGL) | ₹3,300 crore |
Stake Acquired in Ayana Renewable Power | 100% |
Total Renewable Capacity (Ayana) | 4.1 GW |
ONGC Videsh Investment in Mozambique LNG Project | ₹1,500 crore |
ONGC Share Price (BSE Close) | ₹242.20 |
Share Price Change | -0.64% |
In addition to the investment in ONGC Green, ONGC Videsh (OVL) will invest up to ₹1,500 crore in Beas Rovuma Energy Mozambique Limited (BREML), with the investment being converted into redeemable preference shares. Furthermore, OVL Overseas IFSC Ltd. (OOIL) has committed to providing a $379.3 million (₹3,270 crore) senior loan sponsorship to Moz LNG1 Financing Company Ltd, a key entity involved in the Area 1 Mozambique LNG Project. Additionally, ONGC has extended a corporate guarantee of the same amount to MozLNG1, indicating the company’s strategic intent to secure long-term energy assets abroad.
Following the investment announcement, the ONGC share price closed at ₹242.20 on the BSE, down by ₹1.55 or 0.64%. The minor decline reflects a cautious market sentiment as investors assess the impact of large-scale investments on the company's financial stability. Despite the dip, the move is seen as a significant step towards bolstering ONGC's renewable energy portfolio, positioning it as a key player in India’s clean energy transition.
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