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NTPC to rope in strategic investor for NREL

Wednesday, 29 Dec 2021
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NTPC is planning to rope in a strategic investor for its clean energy arm NTPC Renewable Energy (NREL) ahead of its listing on bourses in October 2022.

The divestment plan also includes listing of the North Eastern Electric Power Corporation (NEEPCO) and NTPC Vidyut Vyapar Nigam (NVVNL) by March 2024.

The plan also includes sale of its stake in NTPC-SAIL Power Company (NSPCL).

NTPC has planned to bring a strategic investor for NREL which is expected to be listed sometime in October 2022. The strategic investor would be roped in before the listing of NREL on bourses.

The company needs huge funds for meeting its target of having 60 GW renewable energy capacity mainly through NREL, which will be 45 percent of its total 130 GW installed generation capacity envisaged by 2032.

The equity component of NREL will be around Rs 50,000 crore and rest of the requirement would be met through long-term loans, debentures, bonds and other such modes.

The plan to have 60 GW RE capacity by 2032 will entail an investment of Rs 2.5 lakh crore.

NREL, a 100 percent subsidiary of NTPC, currently has a renewable project portfolio of 3,850 GW of which 970 MW projects are under construction and 2,880 MW projects have been won and in different phases of implementation.

NTPC had incorporated NREL with the Registrar of Companies, NCT of Delhi & Haryana on 7 October 2020, to undertake renewable energy business.

Present installed capacity of NTPC Group is 67,907.5 MW (including 13,675 MW through JVs/Subsidiaries) comprising 48 NTPC stations (23 coal-based stations, seven gas-based stations, one hydro station, one small hydro, 15 solar PV and one wind-based station) and 26 joint venture stations (nine coal-based, four gas-based, eight hydro, one small hydro, two wind and two solar PV).
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