NTPC set to expand green energy play with latest acquisitions
NTPC will increase its renewable energy play with its acquisition of the government’s stake in North Eastern Electric Power Corporation Ltd (NEEPCO) and THDC India Ltd (THDCIL).
Last week, the Centre raised ₹11,500 crore by divesting its 74.49 per cent stake in THDCIL, in addition to completely selling off its stake in NEEPCO.
THDCIL is a 75:25 joint venture between the Government of India and the UP government.
“Apart from adding to the equity and earnings, NTPC will benefit from a 5 per cent capacity addition. With these acquisitions, NTPC will tap the hydro opportunity and is on road for big renewables aspirations,” said Rupesh Sankhe, Vice-President, Elara Capital. The acquired assets include hydro and solar energy plants. These two acquisitions are strategic fits to NTPC, said Swarnim Maheshwari from Edelweiss Research.
