NTPC did not disclose the amount to be raised from the renewables energy IPO, but said the equity component of the firm would be around Rs 50,000 crore.
NTPC has to mobilize 2.5 lakh crores.
India’s largest power generator company NTPC is moving fast on the plan to list its subsidiary NTPC Renewable Energy Limited (NTPC renewables energy) in the stock market. According to information received from sources, its IPO will come in 2022-23. In fact, the company wants to raise funds to achieve its ambitious target of 60 GW. A total investment of Rs 2.5 lakh crore is proposed for this target.
The source, however, did not disclose the amount to be raised through the initial public offering (IPO) of NTPC Renewable Energy, but said the equity component of the firm would be around Rs 50,000 crore and the rest would be on long-term loans, debentures, bonds and other such methods will be collected. In October last year, NTPC had formed a wholly owned subsidiary for its renewable energy business by the name of NTPC Renewable Energy Limited. Earlier this week, NTPC Chairman and Managing Director Gurdeep Singh had also indicated to list NTPC Renewable Energy Ltd.
Presently the renewable energy generation is only 1365 MW.
NTPC is the largest power generator in the country. It mainly produces coal based energy. Its target is to generate 60 thousand MW of electricity from wind and solar capacity by 2032. Presently the renewable energy capacity is 1365 MW. By the financial year 2024, it is to be increased to 13,000 MW of green energy.
5000 MW Green Park in Gujarat
According to the information, NTPC is in talks with the Government of Gujarat, Rajasthan, Maharashtra and Andhra Pradesh for allotment of land for renewable energy production. Here the company will produce 17 thousand MW of renewable energy. According to a Bloomberg report, Gujarat will build a renewable energy park for 5000 MW capacity.
NTPC to double production capacity
NTPC wants to bring a dramatic change in itself within the next decade. At present it produces coal based electricity. The share of Fossils Fuel in current production is 92 per cent. The company wants to double its capacity to 130 GW by 2023. Renewable energy will have a share of 60 GW in this. The Government of India has set a target of increasing the renewable energy capacity to 4.5 lakh MW by 2030. At present it is 95 thousand MW.
Adani Green the only listed company
Other companies in the country are also spreading their feet rapidly in the direction of renewable energy. Gautam Adani is already in this sector. The business of his company Adani Green Energy is spreading very fast. It is the only listed company in its sector.
Mukesh Ambani’s entry too
In the meeting of Reliance AGM held on June 24, Chairman Mukesh Ambani announced the opening of Reliance Green Energy Company. A $10 billion fund was also announced for this. Reliance Industries will make this investment in solar, hydrogen and batteries in the next three years. Mukesh Ambani is preparing to open a 5000-acre Green Energy Park in Jamnagar, Gujarat.
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