As part of the asset monetisation drive, state-run power producer NTPC is planning to float IPOs of its wholly-owned subsidiaries, NTPC Renewable Energy (NREL), North Eastern Electric Power Corporation (NEEPCO) and NTPC Vidyut Vyapar Nigam (NVVNL). It will also exit NTPC-SAIL Power Company (NSPC), a 50:50 joint venture between NTPC and SAIL, which owns 814 MW of captive power plants at SAIL’s steel manufacturing units at Durgapur, Rourkela and Bhilai.
A senior executive at the company said that the public listings and stake sale are expected to raise Rs 15,000 crore. The target is to conclude all the three IPOs by March, 2024. At FY21-end, the net worth of NEEPCO was Rs 6,450 crore and that of NVVNL was Rs 370 crore. NSPCL had a net worth of Rs 2,742 crore at the end of FY20. The government has said that 3,472 MW of hydro power and 2,494 MW of renewable assets — owned by NTPC, NHPC, Satluj Jal Vidyut Nigam and NLC (formerly Neyveli Lignite Corporation) — will be offered to the private sector by FY25 under the asset monetisation programme.
