New Delhi: Coal power giant NTPC According to a company official familiar with the plans, Ltd expects to raise Rs 15,000 crore ($2 billion) through an initial public offering (IPO) across three entities, including its renewables business.
The official said the state-run generator is planning to sell shares in NTPC Renewable Energy Ltd within a year.
The person said the hydropower unit North Eastern Electric Power Corp, which it bought last year, and the power trading arm, NTPC Vidyut Vyapar Nigam Ltd, are listed for early 2024.
The New Delhi-based company is also looking to sell its stake in NTPC-SAIL Power Company, a joint venture with Steel Authority of India Ltd, to supply power to the steel maker’s mills and townships.
India’s largest power producer NTPC has turned to green energy due to increasing pressure to reduce the use of coal due to the fuel’s role in global warming and its harmful effects on the environment and human health.
Growing climate change concerns have limited funding for fossil fuel projects and limited investment in green energy.
Fossil fuel tycoons including Mukesh Ambani, Gautam Adani and Sajjan Jindal have embraced this change, and have announced plans for a record expansion into green energy.
According to the official, by the time it is listed, NTPC Renewable Energy will aim to have at least 10 GW of generation capacity.
The person said the company may merge its 800 MW Koldam hydroelectric project in the northern state of Himachal Pradesh with a renewable subsidiary.
NTPC has won bids for 2,765 MW of renewable projects since the beginning of the financial year in April, a 77% increase over the previous financial year.
The company, which runs nearly 90% of its production capacity on coal, earlier this year raised the scale of its green ambitions, saying it would help build 60 gigawatts of renewable energy projects by 2032, nearly double what was previously planned .
The company is looking to expand its hydropower fleet by buying two state-run producers, including North Eastern Electric, for $1.5 billion last year.
Its power trading unit NTPC Vidyut Vyapar has started tapping energy transition projects including electric mobility.
The official said the state-run generator is planning to sell shares in NTPC Renewable Energy Ltd within a year.
The person said the hydropower unit North Eastern Electric Power Corp, which it bought last year, and the power trading arm, NTPC Vidyut Vyapar Nigam Ltd, are listed for early 2024.
The New Delhi-based company is also looking to sell its stake in NTPC-SAIL Power Company, a joint venture with Steel Authority of India Ltd, to supply power to the steel maker’s mills and townships.
India’s largest power producer NTPC has turned to green energy due to increasing pressure to reduce the use of coal due to the fuel’s role in global warming and its harmful effects on the environment and human health.
Growing climate change concerns have limited funding for fossil fuel projects and limited investment in green energy.
Fossil fuel tycoons including Mukesh Ambani, Gautam Adani and Sajjan Jindal have embraced this change, and have announced plans for a record expansion into green energy.
According to the official, by the time it is listed, NTPC Renewable Energy will aim to have at least 10 GW of generation capacity.
The person said the company may merge its 800 MW Koldam hydroelectric project in the northern state of Himachal Pradesh with a renewable subsidiary.
NTPC has won bids for 2,765 MW of renewable projects since the beginning of the financial year in April, a 77% increase over the previous financial year.
The company, which runs nearly 90% of its production capacity on coal, earlier this year raised the scale of its green ambitions, saying it would help build 60 gigawatts of renewable energy projects by 2032, nearly double what was previously planned .
The company is looking to expand its hydropower fleet by buying two state-run producers, including North Eastern Electric, for $1.5 billion last year.
Its power trading unit NTPC Vidyut Vyapar has started tapping energy transition projects including electric mobility.
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