Comments
India’s largest power generator said on Monday that it intends to float the much-awaited initial public offer (IPO) of NTPC Green Energy (NGEL) by October-November this year.
NGEL, an umbrella company that houses state-run NTPC’s green energy business, will be key for the Genco to achieve a RE target of 60 gigawatts (GW) by FY32.
Also read: Adani Energy Solutions to raise ₹12,500 crore via QIP
During NTPC’s investor call post its Q4 FY24 results, the Gencos’ senior management said it is “tentatively” planning for the IPO around October-November 2024. It will initiate the process for draft red herring prospectus (DRHP) and other due diligence after June 2024. The Lok Sabha elections and new government formation is scheduled for June.
Green push
At present, around 3.6 GW RE projects have been commissioned by the Group. While another 8.4 GW of RE projects are in various stages of construction. Besides, NTPC has an additional 11.2 GW of RE projects under tendering.
NGEL aims to set up 3 GW of RE capacities in the current financial year, followed by 5 GW in FY26 and 8 GW in FY27.
NTPC management said that the Group will incur a capex in the range of ₹35,000-50,000 crore in the next 2-3 years for the expansion of its green energy and thermal capacities. The Group aims to add 22.5 GW of thermal and RE capacities in the next three years.
Also read: Mukesh Ambani weighs listing RJio first
The group had incurred a capex of ₹34,943 crore in FY24 against ₹35,204 crore in FY23.
Coal-fired power
NTPC will continue the expansion of coal-fired power plants to meet India’s growing power demand and balance RE in the grid.
As part of the company’s overall energy security plan, NTPC is actively considering awarding 15.2 GW of thermal capacity in the near future (FY25: 10.4 GW; FY26: 3.2 GW and FY27: 1.6 GW). This is in addition to 9.6 GW of thermal capacity already under construction for the group.
Furthermore, to have greater fuel security, the company will enhance its coal mining capacity and increase it to 50 million tonnes per annum in the next three years.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.