NTPC incorporates subsidiary for renewable energy biz
State-owned NTPC on Thursday said it has incorporated a subsidiary for its renewable energy business.
“NTPC Ltd has incorporated a wholly-owned subsidiary, in the name of NTPC Renewable Energy Ltd with the Registrar of Companies, NCT of Delhi & Haryana on October 7, 2020, to undertake renewable energy business,” a BSE filing said.
In August, NTPC had received approval from Niti Aayog and the Department of Investment and Public Asset Management to set up a wholly-owned company for its renewable energy business.
The creation of the new subsidiary comes at a time when NTPC is targeting generation of nearly 30 per cent or 39 GW of its overall power capacity from renewable energy sources by 2032.
