State electricity giant NTPC has drawn up a 15 000 Crore divestment plan that lists its armies NTPC Renewable Energy, North Eastern Electric Power Corporation and NTPC Vidyut Vyapar Nigam, a source said.
The source stated that in addition to listing the three companies, the plan to achieve the disposal target of Rs 15000 crore includes the sale of its stake in NTPC SAIL Power Company Ltd (NSPCL) which is expected this fiscal year.
NSPCL is a joint venture between NTPC and SAIL (capital 50:50) and was founded on February 8, 1999. It was established to provide proprietary power plants for SAIL’s steel production facilities in Durgapur, Rourkela and Bhilai. own and operate.
According to the source, the Rs 15 billion divestment plan is in line with the agreed performance targets the company has set with the Department of Energy, including the inclusion of NTPC Renewable Energy Ltd (NTPC REL), North Eastern Electric Power Corporation Ltd (NEEPCO). and NTPC Vidyut Vyapar Nigam Ltd (NVVNL) until March 2024.
The source said that NTPC REL is expected to be listed in October next year. NTPC REL, a 100% subsidiary of NTPC Ltd, currently has a portfolio of 3,450 MW renewable projects, of which 820 MW are projects under construction and 2,630 MW have been awarded for which PPA (Power Purchase Agreement).
NTPC registered NTPC REL with the Registrar of Companies, NCT of Delhi and Haryana, on Oct 7, 2020 to take over the renewable energy business. The list of 4,444 NTPC RELs is significant given the company’s ambitious plan to have 60 GW of renewable energy capacity by 2032. The company’s installed renewable energy capacity would be 45 percent of the 130 GW projected by 2032.
Previously, the company had planned to have at least 32 gigawatts (GW) of renewable energy (RE) capacity by 2032, representing nearly 25 percent of its total power generation capacity.
The currently installed capacity of the NTPC Group is 66,900 MW (including 13,425 MW through joint ventures / subsidiaries), consisting of 47 NTPC stations (23 coal stations, 7 gas stations, 1 hydroelectric plant, 1 small hydroelectric plant , 14 solar photovoltaic and 1 wind turbine) and 26 joint venture stations (9 coal-based, 4 gas-powered, 8 hydroelectric, 1 small hydroelectric, 2 wind and 2 solar photovoltaic).
The source said that the capital component of NTPC REL would be around 50 billion rupees and the rest of the requirement would be met by long-term loans, notes, bonds and other similar types.
The plan to have a renewable energy capacity of 60 GW by 2032 would involve an investment of Rs 2.5 lakh crore.
The other branch that the company plans to go public is NEEPCO, in which it acquired 100 percent of the shares held by the Government of India (GoI) on March 27, 2020, making it a wholly owned subsidiary.
NTPC had acquired NEEPCO for Rs 4 billion. Another publicly traded branch is NVVN, a wholly owned subsidiary of NTPC.
It was founded on November 1, 2002 to carry out the business of buying and selling all types of electrical energy, both conventional and unconventional, and to dedicate itself to the fields of RE, electric mobility and hydrogen mobility.
