State-run power firm NTPC aims to bring in a strategic investor for its renewable energy unit, NTPC Renewable Energy Ltd (NREL), before it goes public in October 2022, a senior official reportedly said.
The NREL listing is part of a Rs 15,000-crore divestment plan by the state-run power behemoth over the next three years. North Eastern Electric Power Corporation Ltd (NEEPCdO) and NTPC Vidyut Vyapar Nigam Ltd (NVVNL) will be listed on the stock exchange by March 2024 as part of the divestiture strategy. Its share in NTPC-SAIL Power Company Ltd will also be sold as part of the proposal (NSPCL).
"NTPC intends to bring in a strategic investor for NREL, which is set to go public in October 2022. Before NREL gets listed on bourses, a strategic investor would be brought in," a top official stated.
The official also indicated that the firm need significant expenditures to reach its goal of 60 GW of renewable energy capacity, primarily through NREL, by 2032, which would account for 45 percent of its entire 130 GW installed generation capacity.
The equity component of NREL would be around Rs 50,000 crore, with the balance coming through long-term loans, debentures, bonds, and other sources. The ambition to develop 60 GW of renewable energy capacity by 2032 will require a Rs 2.5 lakh billion investment.
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