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Over the last 12-15 months, investors such as Blume Ventures, Leo Capital and new entrants like Synapses have been betting on climate tech startups. Even global investors are looking to invest in climate tech companies.
Oil and Natural Gas Corp (ONGC) is reportedly in discussions with NTPC Green Energy to form a consortium for bidding on Ayana Renewable Power, owned by the National Investment and Infrastructure Fund (NIIF). The enterprise value of Ayana is estimated to be around $2 billion. Other entities like JSW Neo Energy, Sekura Energy, Masdar, Macquarie, and Sembcorp have also shown interest in acquiring a controlling stake in Ayana.
Oil and Natural Gas Corp (ONGC) is in talks to form a consortium with NTPC Green Energy to bid for National Investment and Infrastructure Fund-owned Ayana Renewable Power, according to people aware of the matter.
Sembcorp Industries, Macquarie Group, and JSW Neo Energy have also submitted non-binding bids for the green energy company.Ayana has 5 GW of operational and under-construction green energy projects, which it aims to double to 10 GW next year
NIIF will shortlist bidders in the next weeks, allowing them to undertake due diligence on the company before submitting binding financial proposals.