NTPC to list green energy arm in FY24; strategic investment plan fails

Intends to raise over Rs 5,000 crore through IPO

India’s largest power-generating company NTPC will publicly list its newly formed green energy arm – NTPC Green Energy (NGEL) – in 2023-24 (FY24).

The company houses all the green energy and green fuel projects of the parent entity and aims at building 60 gigawatt (Gw) of green energy portfolio by 2030 - 3x of its planned new thermal capacity.

The decision to go for an initial public offering (IPO) has come after talks failed to make any headway in getting a strategic investor aboard NGEL, said senior executives. They added the company is targeting to raise close to or more than Rs