State-owned NTPC is spinning off its renewable energy assets to its wholly-owned subsidiary NTPC Green Energy Ltd (NGEL).
In a regulatory filing to the stock exchanges, NTPC said it will transfer 15 renewable energy assets to NTPC Green through a business transfer agreement dated July 8. It will also transfer 100 per cent equity shareholding held in NTPC Renewable Energy Ltd (NREL), its wholly-owned subsidiary, to NGEL through a share purchase agreement.
NTPC said the revenue from the 15 renewable energy assets proposed to be transferred was Rs 917.46 crore in 2021-22, which is around 0.68 per cent of its revenue of Rs 1,34,994.31 crore (on a consolidated basis) as of March 31. Similarly, the revenue from NREL was Rs 79.8 lakh in 2021- 22, which was 0.0006 per cent of its consolidated revenue during the fiscal year.
