NTPC Green Energy Ltd (NGEL) recently selected investment bankers for the listing. NGEL will drive India's largest power producer's ambitious clean energy programmes. The company will have subsidiaries and joint ventures to carry out the projects.
ET's emailed queries to NTPC did not elicit any response till press time.
The power generator's subsidiary will be the flag bearer of its aim to add 60 GW renewable energy capacity by 2032. It is also looking to develop pumped hydro storage and green hydrogen and ammonia manufacturing projects. The company is also working on e-mobility and waste-to-wealth projects.
NTPC was earlier looking for a strategic partner for which it had called for interest in FY23. Malaysia's Petroliam Nasional Berhad (Petronas), which had shown interest, withdrew its offer for a 20% stake in the unit.
Petronas had offered to buy the stake at around INR 4,000 crore for NGEL, pipping two other companies for the stake.
NTPC aims to add 3 GW of renewable generation capacity in this fiscal, three times higher than what it added in FY24. The company and its subsidiaries have an operational renewable capacity of 3.5 GW and a pipeline exceeding 20 GW.
This will be the second listing in two years of a government-owned company in the renewable energy sector. Last November, Indian Renewable Energy Development Agency Ltd saw its IPO being oversubscribed 38.8 times.
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