Ayana to invest Rs 120 million for 2 GW renewable energy projects in Karnataka

Ayana Renewable Power Private Limited (Ayana), one of India’s leading renewable energy producers, is planning to expand Karnataka’s clean energy capacity. With an investment of approximately Rs 120 billion, the company has signed an expression of interest with the Government of Karnataka to develop wind and solar power projects with a total capacity of 2 GW in Karnataka. This increase in capacity will deliver renewable energy to approximately 2 million households. Ayana currently has a 340 MWAC operational portfolio in the state.

The National Investment and Infrastructure Fund is a majority stakeholder in Ayana, which is headquartered in Bengaluru. The British International Investment and Green Growth Equity Fund (GGEF) are other shareholders in the renewable power company. GGEF is managed by EverSource Capital.

In May 2022, Greenstat Hydrogen India and Ayana signed a joint development agreement for the development of green hydrogen projects in India. The companies would collaborate to develop large-scale green hydrogen solutions in order to provide a long-term supply of green hydrogen to industrial and commercial users in India.