New Delhi, July 2
Betting big on green power, the country's largest power producer NTPC proposes mega listing of its renewable energy subsidiary next fiscal to raise resources to fund its massive clean power play.
Sources in the government said that the power generator will be investing close to Rs 2 lakh crore to Rs 2.5 lakh crore over the next decade on expanding renewable capacity also aimed at boosting equity support, a big chunk of which would also come from the market through public offer.
NTPC recently doubled its renewable power capacity addition target from 30,000 to 60,000 MW in 2032. It aims to have a thermal-renewable mix of 50:50 over the next decade. Currently try the company has about 1500 MW of renewable capacity with another about 3,500 MW under construction.
NTPC will also cut net energy intensity by 10 percent. In this regard, the plan is to add 7,000-8,000 MW of renewable capacity every year.
The equity needs for renewable expansion are expected at around Rs 50,000 crore while the balance investment would come from loan and bond issues. A large portion of the equity would be raised through the market plan for listing renewable subsidiary is crystallized.
Last year in October, state-owned NTPC incorporated a wholly-owned subsidiary for its renewable energy business in the name of NTPC Renewable Energy Ltd.
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