New Delhi: National Thermal Power Corporation (NTPC), India's leading power producer, is gearing up to launch an initial public offer (IPO) for its wholly owned subsidiary, NTPC Green Energy, in the upcoming financial year (FY25).
Mohit Bhargava, CEO of NTPC Green Energy, disclosed this plan in an interview with CNBC-TV18, citing the substantial need for equity in the business as the primary reason for considering the IPO.
The company intends to allocate approximately ₹10,000 crore for renewables expenditure this year and anticipates spending between ₹15,000-20,000 crore next year, with a portion of this financed through equity.
Bhargava highlighted the necessity of accessing the market for funds, considering the evolving energy landscape and India's commitment to reducing its carbon footprint.
NTPC Green Energy aims to achieve 60 gigawatts (GW) of green capacity by FY32, as part of India's broader target of 400 GW of renewable capacity. The company is currently working on a pipeline of around 25-26 GW, with significant emphasis on solar energy.
Furthermore, the company plans to establish a green energy hub spanning 1,200 acres of land near Pudimadaka village in Visakhapatnam, Andhra Pradesh, aligning with the government's energy transition initiatives. /BI
