Ayana Renewable Power Private Limited wins the ‘Best M&A Deal of the Year’ Solar eAward. EQ organized India Solar Awards 2020-21 on May 26, 2021 for the solar industry of the nation. The event was powered by EQ iSearch and based on the solar achievements of 2020-21.
The company received many other awards at the EQ E-Award Show May 2021. These awards are Solar Engineering Team of the year, Project Engineering Head of the Year and Young CFO of the year. Saravanam M, Head D&E, Ayana Power and Puneet Malhotra, GM, M&A, Ayana Power accepted the award.
“Thank You for bestowing this prestigious award on us. It is a great honour to receive this award. We have done a lot of work in the last two years. We currently have close to 1.7 GW of portfolio both under construction and operational. It has been a great effort by the engineering team especially to put all those grids, do all those acquisitions and take us to where we are,” said Puneet Malhotra.
Ayana Renewable Power was awarded the Best M&A Deal of the year for the acquisition of 40 MW operational assets of First Solar in Karnataka and received project finance for the same from India InfraDebt Limited.
The transaction was completed during the peak of COVID 19 in the month of July last year. The short-term financing converted into long-term financing and closed simultaneously with the acquisition. The disbursement process was completed within two weeks from acquisition by India InfraDebt.
The strategic vision of the company is to create significant renewable power generating capacity across South Asia. The company has been set up to develop significant MWs of renewable energy generation capacities in India. Ayana Power was founded in the year 2017. The Headquarters of the company is located in Bangalore, Karnataka.
