India's largest power producer, NTPC Ltd, is gearing up for a significant move in the renewable energy sector, with plans to take its green energy arm public by the end of fiscal year 2024/2025. A senior executive from the company disclosed this information on Tuesday, speaking on condition of anonymity due to the non-public nature of the announcement.
In addition to the IPO plans, NTPC aims to bolster its renewable energy capacity by adding 4 to 5 gigawatts (GW) while also expanding its coal-fired power capacity by 3 GW within the same fiscal period, the executive revealed. The ambitious targets come amidst India's broader push towards cleaner energy sources.
For the fiscal year 2024/2025, NTPC anticipates capital expenditures to reach 300 billion rupees ($3.61 billion). To fund these investments, the company intends to raise 220 billion rupees through a combination of loans and green bonds. These details were shared by the official during the India Energy Week conference held in Goa.