JSA successfully represented ONGC NTPC Green Private Limited (ONGPL) in obtaining unconditional approval from the Competition Commission of India (CCI) for its 100% acquisition of Ayana Renewable Power Private Limited (ARPPL).

ARPPL is a leading renewable energy platform, with an enterprise value of INR 195 billion (USD 2.3 Billion). ONGPL is a 50:50 joint venture between ONGC Green Limited and NTPC Green Limited, the renewable energy verticals of ONGC Limited (ONGC) and NTPC Limited (NTPC).

The CCI granted its unconditional approval on March 11, 2025. This landmark transaction stands as one of the largest deals in India’s renewable energy sector and marks a significant milestone for ONGPL, representing its first strategic acquisition since its inception in November 2024.

Our deal team comprised of Partners, Vaibhav Choukse and Ela Bali, Principal Associate, Nripi Jolly, Senior Associate, Aditi Khanna, Associate, Faiz Siddiqui & Junior Associate, Arundhati Rajput.