By March 2023, state-owned power firm NTPC is expected to find a strategic investor for its subsidiary NTPC Green Energy Ltd, which will assist in raising Rs 3,000 crore for renewables projects in the country. On April 7 this year, NTPC Green Energy Ltd was registered with the Registrar of Companies. NTPC provides one-fourth of the country’s total electrical supply. NTPC is looking for a strategic investor for its subsidiary NTPC Green Energy Ltd.
The company hopes to raise Rs 2,000 crore to Rs 3,000 crore from this deal, which is expected to close this fiscal year or by March 2023. Some pension funds, stock investors, and large corporations have expressed an interest in investing in NTPC Green Energy Ltd. As a result, finding a strategic investor for the subsidiary is likely to begin during the current fiscal year.
Given NTPC’s ambition to have 60 GW capacity from RE (Renewable Energy) sources, accounting for approximately 45 percent of total power generation capacity by 2032, the corporation will need more than Rs 2.5 lakh crore to meet this ambitious target in the following decade. The NTPC now has an operational renewable energy capacity of 2,332 MW. The NTPC Group’s total installed power production capacity (including fossil-fuel based) is 70,254 MW (including joint ventures and subsidiaries).
NTPC provides one-fourth of the country’s total electrical supply. The government has set a target of 500 GW of renewable energy generation capacity from solar, wind, and hydro projects by 2030.