NTPC taps CPPIB, TAQA to sell green arm stake

Global utilities and energy companies, pension and infrastructure-focussed funds are among those that have been approached by NTPC NSE 2.33 % as it starts fundraising for its clean energy platform. NTPC’s plans—to first carve out its renewable energy assets into a special purpose vehicle and sell a stake subsequently to raise funds—will form part of the government’s National Monetisation Pipeline (NMP).

Feelers have been sent and preliminary discussions have been held with Abu Dhabi-listed TAQA, Malaysia’s state-owned Petronas, Canadian pension fund CPP Investment Board (CPPIB), Brookfield, KKR & Co. and Copenhagen Infrastructure Partners among others to gauge their interest, said people aware of the development.