Ayana Renewable Power

Ayana Renewable Power

Developer of solar energy projects

Founded

2017

Headquarters

Bengaluru (India)

Status

Acquired

Company Details

Website

Socials

Email

Phone

+91 - 8048511001

Ayana Renewable Power is one of India's largest and fastest-growing renewable energy companies. In just five years, our presence has expanded across India. We are working towards developing a 10 GWac portfolio by 2025 that can provide clean power to millions of people. Ayana Renewable Power has rapidly established itself as a key contributor to India's transition towards sustainable energy solutions. The company operates in a dynamic industry that is increasingly vital for addressing climate change and meeting global energy demands. ONGC NTPC Green Private Limited (ONGPL), a joint venture between ONGC Green Energy and NTPC Green Energy, has entered into a definitive agreement to acquire Ayana Renewable Power Private Limited.

Business Model & Revenue Streams

Ayana Renewable Power employs a multifaceted business model that allows it to generate revenue through various channels:

  • Power Purchase Agreements (PPAs): The majority of Ayana's revenue is derived from long-term PPAs with high credit-rated off-takers such as the Solar Energy Corporation of India and NTPC. These agreements provide stable cash flows by locking in fixed tariffs for the electricity produced.

  • Project Development: Ayana develops utility-scale solar and wind projects, which are then sold or operated under long-term contracts. This includes both greenfield projects and acquisitions of existing assets.

  • Hybrid Energy Solutions: The company is also venturing into hybrid projects that combine solar and wind energy, enhancing reliability and efficiency. This diversification allows Ayana to cater to a broader market segment.

  • Round-the-Clock (RTC) Power Supply: Recently, Ayana has begun supplying RTC power, which ensures uninterrupted energy delivery. This service is particularly appealing to industrial clients seeking reliable power sources.

Customer Segmentation

Ayana Renewable Power primarily serves B2B customers, including large corporations and public sector undertakings that require substantial energy supplies. Its clientele includes industries such as manufacturing, transportation, and utilities, all looking to transition to cleaner energy sources.

Growth Strategy

Ayana's growth strategy focuses on several key areas:

  • Market Expansion: The company aims to increase its footprint across India by developing new projects in various states and exploring international markets.

  • Strategic Partnerships: Collaborations with established firms like Hindalco Industries for joint projects exemplify Ayana’s strategy to leverage synergies for mutual growth.

  • Acquisitions: Ayana has expanded its portfolio through strategic acquisitions of other renewable energy companies, enhancing its operational capacity and market presence.

  • Innovation: Continuous investment in technology and project development methodologies helps Ayana maintain a competitive edge in the rapidly evolving renewable energy landscape.

Competitive Differentiation

Compared to industry standards, Ayana distinguishes itself through:

  • Commitment to ESG Principles: The company's focus on sustainability not only enhances its brand reputation but also attracts socially responsible investors.

  • Diverse Energy Portfolio: By combining solar, wind, and hybrid solutions, Ayana offers comprehensive energy options that cater to varying customer needs.

  • Long-term Revenue Visibility: With a significant portion of its capacity secured through long-term PPAs at competitive tariffs, Ayana minimizes revenue volatility compared to many competitors reliant on spot market pricing.

In summary, Ayana Renewable Power is well-positioned within the Indian renewable energy sector due to its innovative business model, commitment to sustainability, and strategic growth initiatives. As the demand for clean energy continues to rise globally, Ayana stands out as a reliable partner for businesses looking to transition towards sustainable power solutions.

Key People

Prasanna Desai

Shivanand Nimbargi

Key Metrics

Total Equity Funding

$721 Million

No. of Funding Rounds

3

Latest Funding Round

Undisclosed, Series E

as of February 6, 2024

Post Money Valuation

$2.3 Billion

as of February 12, 2025

Funding Multiple

3.19

as of February 12, 2025

Investors

British International Investment

and 3 more

Employee Count

374

Similar Companies

Metafin

Exit Details

N/A

All Funding Rounds

DateRound NameAmountValuationRevenueRevenue Multiple
Investors
February 6, 2024Series E Undisclosed-$112.0 Million- Hindalco
December 17, 2020Series E $390.0 Million---British International Investment, EverSource Capital, NIIF
March 1, 2019Series D $330.0 Million--- EverSource Capital, NIIF

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