16-Feb-2022 | Market Research Store
As per a senior representative of one of the biggest State-run power National Thermal Power Corporation Limited intends to seek a strategic shareholder for its sustainable energy division National Thermal Power Renewable Energy Limited (NREL) before it lists on stock markets in October 2022. The National Thermal Power Corporation Limited listing is part of the state-run power company's overall Rs 15,000-crore asset sales strategy during the next 3 years. North Eastern Electric Power Corporation (NEEPCdO), National Thermal Power Corporation Limited, and Vidyut Vyapar Nigam (NVVNL) will also be listed by March 2024, according to the divestiture plan.
The plan also calls for the trade of its stake in the NTPC-SAIL Power Company (NSPCL).
"NTPC intends to put in a strategic investor for NREL, which is expected to be listed in October 2022. The strategic investor would be brought in before NREL is listed on bourses," according to a senior official.
The spokesperson also says that the company requires massive resources to finance its goal of reaching 60GW renewable energy production, primarily via NREL, by 2032, which would be 45 % of its 130 GW installed generation capacity.
The equity aspect of NREL would be about Rs 50,000 crore, with the remainder being fulfilled through bonds, protracted loans, debentures, and other similar means.
The plan to have 60 GW of renewable energy capacity by 2032 would require an investment of Rs 2.5 lakh crore.
NREL, a wholly-owned division of NTPC Ltd, presently has a renewable energy project of 3,850 GW, of which 970 MW are now under development and 2,880 MW have been awarded and are in various stages of construction.
On October 7, 2020, NTPC registered NREL with the Registrar of Companies, NCT of Delhi & Haryana, to conduct renewable energy business.
The NTPC Group currently operates with an installed capacity of 67,907.5 MW that includes 13,675 MW through JVs/divisions). This comprises 48 NTPC Stations (7 gas-based stations, 23 coal-based stations, 1 hydro station, 15 solar PV, 1 small hydro, and 1 wind-based station) along with 26 other stations (8 hydro, 9 coal-based, 1 small hydro, 4 gas-based, and 2 wind-based stations).