NHPC, NTPC Green Energy to raise ₹4,500 cr via short-term bonds this month

NHPC eyes shorter-tenor bonds; NTPC Green plans debut local-currency issue of up to ₹3,000 crore

State-run power producers NHPC and NTPC Green Energy plan to raise a combined ₹4,500 crore through short-term bond sales this month, Reuters reported on Wednesday.

 

NHPC to tap shorter maturities

NHPC plans to raise around ₹2,000 crore via two- or three-year bonds and is expected to launch its sale ahead of NTPC Green Energy. The hydropower producer had raised ₹1,945 crore in early May through separately transferable redeemable principal part bonds with maturities between six and 15 years. Market participants said shorter maturities are attractive for NHPC given the prevailing interest rate structure and its steady operating cash flows.

 

NTPC Green plans debut local-currency issue

Meanwhile, NTPC Green Energy, a subsidiary of NTPC, is considering a debut local-currency issuance in the range of ₹2,000 crore to ₹3,000 crore, with maturities of five or 10 years. According to a report by Bloomberg, the issuances will be timed to coincide with supportive market conditions, with at least one of them coming after the Reserve Bank of India’s policy announcement today.

 

Crisil Ratings assigns AAA rating to NTPC Green

Crisil Ratings assigned an AAA rating to NTPC Green’s proposed debt in June, citing strong liquidity and steady cash flows. The planned issue comes amid record corporate bond sales this year, supported by a 100-basis-point reduction in the policy rate since February and surplus system liquidity.

 

NTPC Green, India’s most valuable state-run renewable energy firm, raised $120 crore through an initial public offering late last year, in one of 2024’s largest listings. Its shares have fallen about 18 per cent so far in 2025, valuing the company at around $1,000 crore.