NTPC, India’s largest power producer, will be investing close to Rs 2 lakh crore to Rs 2.5 lakh crore over the next decade for expanding renewable capacity.
NTPC planning a mega listing of its renewable energy subsidiary next fiscal to raise resources to fund its massive clean power play, IANS reported.
NTPC recently doubled its renewable power capacity addition target from 30,000 to 60,000 MW 2032. It aims to have a thermal-renewable mix of 50:50 over next decade. Currently, NTPC has about 1500 MW of renewable capacity with another about 3,500 MW under construction.
NTPC will also cut net energy intensity by 10 percent. NTPC aims to add 7,000-8,000 MW of renewable capacity every year, government sources said.
The equity needs for renewable expansion is expected at around Rs 50,000 crore while the balance investment would come from loan and bond issues. A large portion of the equity would be raised through the listing of renewable subsidiary.
Last year in October, NTPC incorporated a wholly-owned subsidiary for its renewable energy business in the name of NTPC Renewable Energy.