CHENNAI: State-run power producer NTPC Ltd. is considering an initial public offering (IPO) of its newest subsidiary NTPC Renewable Energy Ltd. in an effort to raise capital that will fund its ambitious clean energy targets. The company has set itself a goal of achieving 60 GW of installed renewable energy capacity by 2032.
Speaking about the company’s clean energy plans at a virtual event on Tuesday, NTPC’s chairman and managing director Gurdeep Singh said that NTPC was not just looking at one single avenue to mobilise funds. “We should not focus on one way of raising funds. We want to soon go to public for raising funds,” he said, noting that NTPC would add 7-8 GW of renewable energy capacity every year. Singh pointed out that over the past five years, NTPC has not added any thermal capacities.
