State-owned power giant NTPC on Friday said it has received the approval of Niti Aayog and Department of Investment and Public Asset Management to set up a wholly-owned company for its renewable energy business.
Now, NTPC will move to form a subsidiary firm for renewable energy business, as it has requisite approvals for the purpose.
“…concurrence had been obtained from NITI Aayog and Department of Investment and Public Asset Management (DIPAM), Ministry of Finance for formation of a wholly-owned subsidiary for NTPC Renewable Energy Business,” the power giant said in a BSE filing.
The wholly-owned subsidiary will be incorporated under the provisions of the Companies Act, 2013, it added.
