Ayana Renewable Power

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.

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

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

• Renewable power generation
• Independent power producer
• Utility-scale solar farms
• Wind-solar hybrid projects
• Green hydrogen production

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D

Revenue model

1. 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.
2. 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
3. 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

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core 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

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core, secondary and minor.

• Greenko GroupcoreStrategic or Co-development PartnerPartnership 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 IndiasecondaryStrategic or Co-development PartnerMoU 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.
• PanasonicminorStrategic or Co-development PartnerJointly commissioned microgrid project in Jharkhand with USAID and Sologix to provide renewable energy access to rural communities.
• Self-Employed Women's Association (SEWA)minorStrategic or Co-development PartnerCollaborated 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 EnergyminorImplementation/ SI/ Consulting PartnerKPI 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

Market position

Competitive moat5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ayana-renewable-power
• Xx.com/power_ayana
• Facebookfacebook.com/ayanapowerltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ayana Renewable Power