NTPC to list 3 entities as part of Rs 15,000-cr asset monetization

Business
Oct 04 2021 08:00 AM
P C Thomas

NTPC to list 3 entities as part of Rs 15,000-cr asset monetization

State-owned thermal power company National Thermal Power Corporation Limited (NTPC Limited) would list on exchanges its three subsidiary companies, in order to meet the government stipulated target of Rs 15,000 crore worth of asset monetisation. The three companies are NTPC Vidyut Vyapar Nigam (NVVN), North Eastern Electric Power Corporation (NEEPCO), and one-year-old NTPC-Renewable Energy (NREL).

The source stated that besides listing of the three firms, the plan to meet its divestment target of 15,000 crore also includes sale of its stake in NTPC-SAIL Power Company Ltd , which is expected this fiscal year. The NSPCL is a joint venture company of NTPC and SAIL was incorporated on February 8, 1999. It was formed to own and operate captive power plants for SAIL's steel manufacturing facilities located at Durgapur, Rourkela and Bhilai. According to the source, the 15,000 crore divestment plan is as per agreed targets of performance set by the company with the Ministry of Power which includes listing of NTPC Renewable Energy Ltd North Eastern Electric Power Corp and NTPC Vidyut Vyapar Nigam Ltd by March 2024.

The source said that the listing of NTPC REL is expected by October next year. NTPC REL, a 100 percent subsidiary of NTPC Ltd, currently has a renewable project portfolio of 3,450 MW of which 820 MW projects are under construction and 2,630 MW projects have been won for which PPAs (power purchase agreements) are pending to be executed. NTPC had incorporated NTPC REL with the Registrar of Companies, NCT of Delhi & Haryana on October 7, 2020, to undertake renewable energy business.