NTPC Handover Renewable Energy Assets to NTPC Green Energy Limited
NTPC Limited has completed the handover of 15 such assets with an overall potential of nearly 3,000 megawatt (MW) to its modern created subsidiary NTPC Green Energy Limited (NGEL).
March 01, 2023. By Nivedita Ojha
This is a transfer of RE assets owned by NTPC to NGEL, its completely-owned division.
The transactions constituted of transfer of 15 RE Assets, with a Business Transfer Agreement (BTA), and the transfer of 100% equity shareholding of NTPC Renewable Energy Limited (NREL), a completely-owned subsidiary of NTPC, through a Share Purchase Agreement (SPA).
This scheme has been applied as a way of the corporate business plan of the group to give a force to its basis on attaining the 60 GW RE capacity target by the fiscal year 2032.
Reaching a step near its plan of monetizing its renewable energy assets, NTPC Limited has marked to finish the handover of 15 such assets with an overall potential of nearly 3,000 megawatts (MW) to its newly created subsidiary NTPC Green Energy Limited (NGEL).
The transfer is finished as the state-own power generator is proposing to offload a 10 to 20 percent stake in NGEL.
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