NamasteIndia Ayana Sale
Ayana Renewable Power is advancing JSW Neo Energy and Oil & Natural Gas Corp (ONGC) to the final round of bidding.
The revised offers value Ayana between $1.6 billion and $1.8 billion, including both debt and liquid assets.
Ayana_Renewable_Power has a significant portfolio with over 4 GW of solar, wind, and hybrid power projects across several states in India.
This move is part of a broader trend towards increasing investments in renewable energy.
JSW Neo Energy & ONGC are the final contenders in the race to acquire Ayana Renewable Power.
Initially, five_companies submitted non-binding offers for Ayana, including Sembcorp, Macquarie, Masdar, and Sekura Energy.
Sembcorp & Macquarie were also shortlisted but their bids were deemed uncompetitive.
Ayana’s assets include an operational capacity of 1.3 GW of renewable energy in AndhraPradesh, Karnataka, and Rajasthan, and an additional 3 GW of projects under construction, including solar, wind, hybrid, and round-the-clock assets.
Long-term power purchase agreements at fixed tariffs ensure revenue stability.
Ayana is being sold to raise up to $800 million, which will be used to fund the company’s expansion plans.
The sale involves a majority stake in Ayana Renewable Power.
The National Investment and Infrastructure Fund (NIIF) is the dominant shareholder in Ayana with a 51% stake, British_International Investment holds 32%, and Eversource_Capital holds 17%.
Originally published on LinkedIn on 2024-09-06 15:05:51: https://www.linkedin.com/feed/update/urn%3Ali%3AgroupPost%3A60128-7237838418301358081
