Power generator NTPC plans IPO for Rs 2.5 trn expansion of renewables biz
State-run NTPC Ltd., India’s largest power generator, aims to take its renewables unit public to help fund a 2.5 trillion rupees ($34 billion) clean energy expansion, according to a company official with knowledge of the plans.
The New Delhi-based producer wants to list its NTPC Renewable Energy Ltd. unit in the next fiscal year, which begins in April 2022, the official said, requesting anonymity as the discussions are private.
It’s intended to enable a dramatic transformation over the next decade for a company that relies on coal to produce the vast majority of its electricity. NTPC is aiming to double generation capacity to 130 gigawatts by 2032 and slash the share of fossil fuels in that energy mix to about half from 92% currently.
