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NTPC Plans to Rope in Strategic Investor for NREL

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NTPC Ltd., India’s largest electricity producer, is seeking a strategic investor in its renewables business, NTPC Renewable Energy Ltd (NREL) prior to taking the unit public next year, according to a senior official with knowledge of the matter.

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The listing of NREL is part of the state-run power giant’s overall ₹15,000 crore divestment plan in next three years. The divestment plan also includes listing of North Eastern Electric Power Corporation Ltd (NEEPCdO) and NTPC Vidyut Vyapar Nigam Ltd (NVVNL) by March 2024.

The plan also includes sale of its stake in NTPC-SAIL Power Company Ltd (NSPCL).

“NTPC has planned to bring a strategic investor for NREL which is expected to be listed sometime in October 2022. The strategic investor would be roped in before the listing of NREL on bourses,” a senior official told PTI.

The official also stated that the company needs huge funds of ₹2.5 lakh crore approx for meeting its target of having 60GW renewable energy capacity mainly through NREL, which would be 45% of its total 130 GW installed generation capacity envisaged by 2032.

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Equity component of NREL would be around ₹50,000 crore and rest of the requirement would be met through long-term loans, debentures, bonds and other such modes.

NREL, a 100% subsidiary of NTPC Ltd, currently has a renewable project portfolio of 3,850 GW of which 970 MW projects are under construction and 2,880 MW projects have been won and are in different phases of implementation.

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