Under the National Monetization Pipeline of the Government of India, NTPC Limited has completed the closing of transactions to consolidate its Renewable Energy (RE) portfolio under one umbrella entity, NTPC Green Energy Limited (NGEL), on February 28, 2023. The transfer of RE assets/entities owned by NTPC to its wholly-owned subsidiary, NGEL, was executed on April 07, 2022.
The transactions included the transfer of 15 RE assets through a Business Transfer Agreement (BTA) and the transfer of 100% equity shareholding of NTPC Renewable Energy Limited (NREL), a wholly-owned subsidiary of NTPC, through a Share Purchase Agreement (SPA) executed on July 08, 2022.
The scheme has been implemented as part of the corporate business plan of the group to achieve the 60 GW RE capacity target by FY32. The consolidation of the RE portfolio under NGEL will provide an impetus to the company’s focus on achieving this target. NTPC’s commitment to renewable energy has been reinforced with this strategic move, which will contribute to India’s energy transition towards a sustainable future.