New Delhi: Under the aegis of the National Monetization Pipeline of the GThis is a transfer of RE assets or entities owned by NTPC to NGEL, its wholly-owned subsidiary, incorporated on April 7, 2022. overnment of India, NTPC Limited (NTPC) has completed the closing of the transactions in relation to consolidating its Renewable Energy (RE) portfolio under one umbrella entity, that is, NTPC Green Energy Limited (NGEL), said the Ministry of Power in a statement.

This is a transfer of RE assets or entities owned by NTPC to NGEL, its wholly-owned subsidiary, incorporated on April 7, 2022. The transactions comprised of transfer of 15 RE Assets, through a Business Transfer Agreement (BTA), and the transfer of 100 per cent equity shareholding of NTPC Renewable Energy Limited (NREL), a wholly-owned subsidiary of NTPC, through a Share Purchase Agreement (SPA), executed on July 8, 2022.

This scheme has been implemented as a part of the corporate business plan of the group to provide an impetus to its focus on achieving the 60 GW RE capacity target by FY32. /BI/