NTPC seeks renewables unit investor before IPO next year
NTPC Ltd., India’s largest electricity producer, is seeking a strategic investor in its renewables business prior to taking the unit public next year, said a company official with knowledge of the matter.
NTPC Renewable Energy Ltd., a fully owned subsidiary of the New Delhi-based firm, plans international roadshows in the fiscal year starting April to find a partner and hopes an investor will boost the value of the subsequent IPO, said the official, who asked not to be identified because the plans are still private.
India is the world’s third-biggest emitter and remains deeply reliant on coal, but the government plans to more than quadruple renewable power capacity by the end of the decade to meet climate commitments.
