NTPC to cut stake in renewable energy arm, hunt for strategic investors
Senior executives reported NTPC will begin “global roadshows” in the coming months to glance for a strategic investor in NREL. “We would be open to all varieties of buyers – vitality utilities, financing providers, domestic and intercontinental vitality players as prolonged as they have financing backing matching our ambition of 60 Gw,” reported a senior executive.
The approach as of now is to list NREL throughout the following fiscal, “preferably ahead of Oct 2022.”
Among the the important renewable vitality projects that NTPC is doing work on at present is the mega photo voltaic electric power park in Khavda, Gujarat in which it will established up 5 gw of photo voltaic electric power potential. The corporation is also in the system of inviting expressions of curiosity for location up fifteen Gw of photo voltaic mobile and module manufacturing.
It will also quickly appear out with a tender for vitality storage of three Gw, which will be “technology and locale agnostic”, reported an executive. The corporation just lately announced location up ‘India’s initial Environmentally friendly Hydrogen centered Electrical power Storage Project’ at its Simhadri electric power plant in Andhra Pradesh.
Gurdeep Singh, chairman and managing director, NTPC, at a public event in June this yr reported NREL would be detailed quickly. “We should really not emphasis on one way of elevating funds. We want to quickly go public for elevating funds,” he reported, adding that the corporation would add seven-8GW renewable electric power each and every yr.
Apart from photo voltaic and wind electric power projects, NTPC is also searching to devote in inexperienced hydrogen and inexperienced methanol – cleaner fuels that are manufactured at units powered by renewable vitality. Resources reported the corporation will start a pilot of manufacturing inexperienced hydrogen at its Vindhaychal thermal electric power device in Madhya Pradesh.
NTPC builds renewable projects beneath two heads – engineering, procurement, and development (EPC) mode, in which it participates in tenders floated by the Centre and states and constructs on its individual. It has created 1.two Gw of photo voltaic and wind projects. The other is developer mode, in which it awards renewable projects to non-public providers and procures electric power to market to states. Underneath the developer mode, four Gw projects are operational and tenders for close to three Gw would be finalised quickly.
NTPC ltd is organizing to consider its three subsidiary providers public in order to fulfill the goal of asset monetisation really worth Rs fifteen,000 crore, stipulated by the Centre.
Apart from NREL, the other two providers are – NTPC Vidyut Vyapar Nigam ltd (NVVN) and North Japanese Electric powered Electricity Corporation ltd (NEEPCO). As part of the very same approach, NTPC will also exit from its joint venture with metal big SAIL ltd – NTPC-SAILPower Firm ltd as part of the monetisation approach.
The existing complete mounted potential of NTPC stands at 66 Gw. Of this, thermal (coal + gasoline) is 61 Gw, hydro three.seven Gw, photo voltaic is 1 Gw and balance is wind.
