Synopsis: Ayana Renewable Power, a wholly owned subsidiary of ONGC NTPC Green Private Limited, has secured a 193 MW wind power project in Madhya Pradesh Power Management Company Limited’s (MPPMCL) 800 MW wind auction at a tariff of Rs. 4.17 per kWh. The win strengthens NTPC Green Energy’s renewable energy portfolio and supports its long-term capacity expansion plans.
Shares of NTPC Green Energy Limited are likely to remain in focus after the company announced that Ayana Renewable Power Private Limited, a wholly owned subsidiary of ONGC NTPC Green Private Limited (ONGPL), has emerged as a successful bidder in the wind power auction conducted by Madhya Pradesh Power Management Company Limited (MPPMCL).
NTPC Green Energy Limited has a total market capitalization of approximately Rs. 80,269.22 crore. The company’s shares were trading at Rs. 95.17 apiece on the stock exchange, down by 0.35 percent during the session. The stock has declined 0.03 percent over the last five trading sessions, while it has declined 4.46 percent] over the last month. The stock touched a 52-week high of Rs. 120 and a 52-week low of Rs. 84.
According to the company’s press release, Ayana Renewable Power secured 193 MW of wind power capacity in MPPMCL’s competitive bidding process for the procurement of 800 MW of wind energy, which also included a greenshoe option of up to an additional 800 MW. The company won the project at a discovered tariff of Rs. 4.17 per kWh, with the auction concluding on June 30, 2026.
Ayana Renewable Power is a wholly owned subsidiary of ONGC NTPC Green Private Limited, a 50:50 joint venture between NTPC Green Energy Limited and ONGC Green Limited. The project adds to the joint venture’s growing renewable energy portfolio and strengthens its presence in India’s rapidly expanding wind energy sector.
The project win is strategically important as it secures long-term revenue visibility through a competitively discovered tariff under a state utility-backed tender. Such projects typically operate under long-term Power Purchase Agreements (PPAs), providing stable cash flows while supporting capacity addition in the renewable energy business.
India continues to accelerate renewable energy deployment as it works toward achieving 500 GW of non-fossil fuel power capacity by 2030. Competitive bidding by central and state utilities has become the primary route for awarding large-scale solar and wind projects, creating significant growth opportunities for developers with strong execution capabilities and access to financing.
For investors, the 193 MW project reinforces NTPC Green Energy’s long-term growth strategy of expanding its renewable energy portfolio through both organic development and strategic partnerships. Continued capacity additions across wind and solar projects are expected to strengthen the company’s operational scale and support future earnings growth.
Incorporated in April 2022, NTPC Green Energy Limited is the renewable energy arm of NTPC Limited, focusing on developing utility-scale renewable energy projects through both organic and inorganic routes. The company is actively expanding its solar, wind, hybrid, and green hydrogen portfolio to support India’s clean energy transition.
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