Ayana Renewable Power
Ayana Renewable Power is an India-based Independent Power Producer developing utility-scale solar, wind, hybrid, and battery storage projects, serving government agencies, state utilities, and industrial corporates such as Hindalco and Indian Railways under 25-year PPAs. It manages ~4.6 GW of capacity as a wholly-owned subsidiary of ONGC NTPC Green following its 2025 acquisition.
- Company typePrivate
- Founded2017
- HeadquartersBangalore, India
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Ayana Renewable Power does
Ayana Renewable Power Private Limited is an India-headquartered Independent Power Producer (IPP) that develops, owns, and operates utility-scale renewable energy projects across solar PV, wind, hybrid solar-wind, battery storage, and emerging green hydrogen platforms. Founded in March 2017 by British International Investment (BII) and headquartered in Bangalore, the company serves three primary customer segments: central and state government energy agencies (SECI, NTPC, Madhya Pradesh Power Management Company, REMCL), state power utilities, and industrial/corporate off-takers (Hindalco Industries, Indian Railways, IRCON International). As of early 2026, Ayana manages approximately 4.6 GW of renewable energy capacity across Andhra Pradesh, Rajasthan, Karnataka, Gujarat, Tamil Nadu, and Jharkhand.
Its commercial model is B2G/B2B: revenue is generated through long-dated 25-year Power Purchase Agreements (PPAs) won predominantly via competitive reverse-auction tenders, with tariffs discovered at auction (e.g., Rs. 4.17/kWh for a 193 MW wind project awarded in June 2026). The product portfolio spans five core offerings — utility-scale solar, utility-scale wind, hybrid solar-wind, Round-the-Clock (RTC) green power (enabled by a 2022 partnership with Greenko Group providing 6 GWh of pumped-hydro storage at Pinnapuram, Andhra Pradesh), and green hydrogen (pilot with Greenstat Hydrogen India in Karnataka, 2022). Operational scale stood at ~529 employees as of December 2024, supported by two core operating subsidiaries (Ayana Renewable Power Four Private Ltd. and Ayana Kadapa Renewable Power Private Limited).
On March 27, 2025, Ayana was acquired 100% by ONGC NTPC Green Private Limited (ONGPL) — a 50-50 joint venture between ONGC Green Limited and NTPC Green Energy Limited — for approximately Rs. 18,700 crore (~$2.3 billion), making it a wholly-owned subsidiary of one of India's largest state-owned renewable energy consolidation platforms. The acquisition added ~2.05 GW to ONGC's renewable portfolio and repositioned Ayana as a vehicle for inorganic and organic expansion under the ONGC-NTPC energy security mandate. Post-acquisition, Ayana has continued to win tenders (e.g., the 193 MW wind project in June 2026) and signed a second 100 MW RTC PPA with Indian Railways in December 2025, suggesting continuity of the core tender-led operating model.
Ayana Renewable Power firmographics
Firmographics- Name
- Ayana Renewable Power
- Legal name
- Ayana Renewable Power Private Limited
- Website
- https://ayanapower.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Acquired
- Headcount range
- 251–500 employees
- Short description
- Ayana Renewable Power is an India-based Independent Power Producer developing utility-scale solar, wind, hybrid, and battery storage projects, serving government agencies, state utilities, and industrial corporates such as Hindalco and Indian Railways under 25-year PPAs. It manages ~4.6 GW of capacity as a wholly-owned subsidiary of ONGC NTPC Green following its 2025 acquisition.
- Ownership category
- akta.pro rank
Ayana Renewable Power industry classification
Industry- Product category
- Renewable Energy Generation
- NAICS
- Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Incentives, Grants & Program Administration (Auctions, Tenders, IRA/ITC/PTC Advisory) (EUAMAAAJ)
- akta.pro secondary industries
- Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE), Hybrid PPAs (Renewables + Storage) & Firm Renewable Products (EUAGADAI)
Keywords
Where Ayana Renewable Power is headquartered
LocationHeadquarters
- HQ city
- Bangalore
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Ayana Renewable Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D
Revenue model
- Power Sale through PPAs: Ayana generates revenue through long-term Power Purchase Agreements (PPAs) with government agencies, state utilities, and private industrial customers. Projects are secured through competitive tenders with tariffs determined by reverse auction. Revenue is contracted and predictable over 25-year PPA tenures.
- Government Tender Projects: Revenue from won tenders for central and state government renewable energy programs including projects for SECI, NTPC, Madhya Pradesh Power Management Company Limited, and Railway Energy Management Company
- Corporate Power Agreements: Direct PPA arrangements with industrial corporates like Hindalco Industries for dedicated renewable energy capacity (330 MW) and RTC power supply
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Wind Power Tariff - ₹4.17/kWh |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
Ayana Renewable Power product offering
Product offeringCore offering
Ayana Renewable Power is an independent power producer (IPP) that develops, owns, and operates utility-scale renewable energy assets — including solar, wind, hybrid solar-wind, and round-the-clock (RTC) green power projects — across multiple Indian states, with a portfolio of approximately 4.6 GW operating and under development. The company sells electricity to government agencies, state distribution utilities, and commercial/industrial corporates under long-term Power Purchase Agreements, and is also advancing green hydrogen initiatives through partnership with ACME Group.
Product overview
Ayana Renewable Power is a leading Independent Power Producer (IPP) in India operating as a single unified business focused on renewable energy generation. The company offers five core product/service lines: Utility-Scale Solar Projects (ranging from 20 MW to 500 MW across locations like Ananthapuram, Bikaner, Pavagada, and Kadapa), Utility-Scale Wind Projects (including 300 MW in Gadag and 141.9 MW in Gujarat), Utility-Scale Hybrid Solar and Wind Projects combining both technologies, Round-the-Clock (RTC) Green Power using battery storage with a partnership with Greenko Group for 6 GWh hydropump storage, and Green Hydrogen initiatives through partnerships. As of 2026, the company manages approximately 4.6 GW of renewable energy capacity. The portfolio includes multiple commissioned projects across Indian states including Rajasthan, Karnataka, Andhra Pradesh, Tamil Nadu, and Gujarat.
Differentiator
Problem solved
Functional benefit
Products and services
- Utility-Scale Solar Power Projects Development, ownership, and operation of utility-scale solar photovoltaic power plants that generate electricity sold to government utilities and corporate offtakers under long-term Power Purchase Agreements. Targeted at central and state power agencies and industrial offtakers seeking renewable energy supply.
- Utility-Scale Wind Power Projects Development, ownership, and operation of utility-scale wind energy farms that generate electricity sold to government utilities and corporate offtakers under long-term Power Purchase Agreements. Targeted at central and state power agencies and industrial offtakers.
- Utility-Scale Wind-Solar Hybrid Projects Combined wind and solar generation projects paired with battery energy storage, designed to improve resource utilization and provide more dispatchable renewable power to offtakers. Targeted at utilities and corporate offtakers requiring flexible renewable supply.
- Round-the-Clock (RTC) Green Power Dispatchable 24/7 renewable power supply combining solar, wind, and battery storage to deliver firm round-the-clock green energy to offtakers. Targeted at utilities and corporate offtakers needing reliable, non-intermittent clean power.
- Green Hydrogen Solutions Green hydrogen project development enabled through a strategic partnership with ACME Group for electrolyser manufacturing and hydrogen production. Targeted at industrial and energy-sector buyers seeking low-carbon hydrogen supply.
Quantifiable outcome
- 8.62 MT carbon offset achieved
- +3 more outcomes
Companies that use Ayana Renewable Power
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles2 records
Ayana Renewable Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Ayana Renewable Power partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core, secondary and minor.
- Greenko GroupcorePartnership signed in February 2022 with Greenko Group for standalone storage capacity to develop firm and dispatchable renewable energy solutions including Round-the-Clock (RTC) power supply of up to 1 GW. Greenko provides 6 GWh hydropump storage capacity at Pinnapuram, Andhra Pradesh, enabling Ayana to offer uninterrupted renewable power.
- Greenstat Hydrogen IndiasecondaryMoU signed in April 2022 with Greenstat Hydrogen India for green hydrogen pilot project development with installation of initial pilot plant in Karnataka. This partnership supports India's Hydrogen Mission and Ayana's diversification into green hydrogen production.
- PanasonicminorJointly commissioned microgrid project in Jharkhand with USAID and Sologix to provide renewable energy access to rural communities.
- Self-Employed Women's Association (SEWA)minorCollaborated with UK's DFID and SEWA to launch skills development program for communities near Ayana's solar power plant in Anantapur, Andhra Pradesh, focusing on women empowerment and employment at solar plants.
- KPI Green EnergyminorKPI Green Energy completed 92.4 MW wind power project for Ayana Renewable Power Four at Nakhatrana, Bhuj, Gujarat in February 2026, comprising 28 wind turbine generators including Balance of Plant, Power Substation, and EHV transmission line.
Scale indicators7 records
Recent moves10 records
Expansion highlights6 records
Ayana Renewable Power competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key highlights6 records
Customer concentration
Ayana Renewable Power social profiles
Digital presenceAyana Renewable Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ayana Renewable Power leadership team
Management profileNumber of profiles
Profiles9 records
Ayana Renewable Power subsidiaries and ownership
Company hierarchySubsidiaries2 records
Ayana Renewable Power funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ayana Renewable Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ayana Renewable Power
What does Ayana Renewable Power do?
Ayana Renewable Power is an independent power producer (IPP) that develops, owns, and operates utility-scale renewable energy assets — including solar, wind, hybrid solar-wind, and round-the-clock (RTC) green power projects — across multiple Indian states, with a portfolio of approximately 4.6 GW operating and under development. The company sells electricity to government agencies, state distribution utilities, and commercial/industrial corporates under long-term Power Purchase Agreements, and is also advancing green hydrogen initiatives through partnership with ACME Group.
Is Ayana Renewable Power a public or private company?
Ayana Renewable Power is a private company. It is classified as state government owned and is currently acquired.
When was Ayana Renewable Power founded?
Ayana Renewable Power was founded in 2017. It employs 251 to 500 people.
Where is Ayana Renewable Power based?
Ayana Renewable Power is headquartered in Bangalore, India, in the Asia region.
How does Ayana Renewable Power make money?
Three revenue lines are on record. Power Sale through PPAs are the primary driver. The others are government Tender Projects and corporate Power Agreements.
Does Ayana Renewable Power have an API?
No public API is recorded for Ayana Renewable Power.
What industry is Ayana Renewable Power in?
Ayana Renewable Power's product category is Renewable Energy Generation. Its primary akta.pro industry code is EUAMAAAJ, Incentives, Grants & Program Administration (Auctions, Tenders, IRA/ITC/PTC Advisory), with a secondary code of EUAMAAAE, Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy). Its NAICS code is 221114 and its SIC code is 4911.