NTPC To Sell Stake in Green Energy Business: Sources


India’s largest power producer NTPC Ltd plans to sell 20% of its green energy business in the current fiscal year. It expects to raise as much as 30 billion Indian rupees ($363.97million), Reuters reported citing three government sources.


This deal is the first green transaction of an Indian state company. It has attracted interest from investors such as Brookfield, Canada Pension Plan Investment Board (CPPIB) and Petronas from Malaysia.


Two sources said that NTPC Green Energy Ltd (NGEL), which will be selling 20% to strategic investors, will follow the initial public offering (IPO).


India’s renewables industry is one of the top five sectors that have attracted the most foreign investment. According to data from India’s Commerce Ministry, its percentage of total foreign direct investments inflows rose to 5% between April and September 2022 and 3.3% during the same period last years.


Initially, NTPC planned to raise funds via a public share-sale. According to a third source, the company is considering selling a 20% stake in a private placement. This would give a valuation for an IPO. It has not been reported previously the size and value of the stake sale.

Also Read  Pan-African Private Equity Firm Raises $199.4 Million for Clean Energy Transition in Africa

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.