Reportedly, Oil and Natural Gas Corporation Limited (ONGC) has planned to invest Rs 33 billion into its wholly owned subsidiary, ONGC Green Limited (OGL), to facilitate the acquisition of Ayana Renewable Power Private Limited.
The proceeds will be used by ONGC NTPC Green Private Limited, a 50:50 joint venture between OGL and NTPC Green Energy Limited, to acquire 100 per cent stake in Ayana Renewable Power.