NTPC Completes Transfer Of 15 Renewable Energy Assets To Its Subsidiary

Under the aegis of the National Monetisation Pipeline of government, State-owned power utility major NTPC Ltd on Tuesday completed transfer its 15 renewable energy assets to its subsidiary NTPC Green Energy Limited.

"NTPC Limited completed the closing of the transactions in relation to consolidating its Renewable Energy portfolio under one umbrella entity i.e., NTPC Green Energy Limited (“NGEL”), " the company said in a statement on Tuesday (28 February).

This is a transfer of RE assets/ entities owned by NTPC to NGEL, its wholly-owned subsidiary, incorporated on 7 April 2022.

This scheme has been implemented as a part of the corporate business plan of the group to provide an impetus to its focus on achieving the 60 GW RE capacity target by FY32, it said.

The revenue from 15 renewable energy assets is Rs 917 crore in FY 2022, which is 0.68 per cent of NTPC’s total revenue of Rs 1.35 lakh crore as of 31 March, 2022, according to the company's regulatory filing.

The net worth of the 15 renewable energy assets is Rs 1,364.74 crore as of 31 March 2022, which is 1.01 per cent of Net-worth of NTPC i.e., Rs. 1,35,373.74 crore, it added.