Oil and Natural Gas Corporation (ONGC), JSW Group, and Sembcorp Industries have been shortlisted as potential buyers for a majority stake in Ayana Renewable Power, in a high-stakes deal valued at $800 million. This development marks a significant step in the energy sector as these prominent players vie for a leading position in the renewable energy market.

The deal, which has garnered considerable attention, involves the acquisition of a majority share in Ayana Renewable Power, a key player in India’s growing renewable energy landscape. The transaction is expected to not only strengthen the acquirers’ positions in the renewable sector but also accelerate India’s transition towards cleaner energy sources.

ONGC, traditionally known for its operations in oil and gas, has been expanding its portfolio into renewable energy, aligning with global trends towards sustainability. The potential acquisition of Ayana represents a strategic move to diversify and bolster its investments in the green energy sector.

JSW Group, a major industrial conglomerate, has been making significant strides in the renewable energy domain, with a focus on increasing its green energy footprint. The acquisition of a majority stake in Ayana would enhance its capabilities and market share in the renewable energy space.

Sembcorp Industries, a global energy and urban development company, has also been actively investing in renewable energy projects. The opportunity to acquire a substantial stake in Ayana aligns with its strategic goals of expanding its renewable energy portfolio and driving sustainable growth.

The shortlist comes after a rigorous evaluation process, and the final selection will depend on various factors including strategic fit, financial capabilities, and long-term sustainability goals. The deal is poised to have a substantial impact on the renewable energy sector in India, reflecting the growing interest and investment in clean energy solutions.

As the energy landscape continues to evolve, the outcome of this deal will be closely watched by industry stakeholders and market observers, highlighting the increasing convergence of traditional energy firms with renewable energy initiatives.