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NTPC Green Energy IPO: Company announces ₹1 Lakh Cr capex plans in green energy by FY27

News by Aliceblue News Desk

15 Nov 2024

NTPC Green Energy IPO: Company announces ₹1 Lakh Cr capex plans in green energy by FY27

Introduction:

The ₹10,000-crore initial public offering (IPO) is set to launch next week, with plans for ₹1 lakh crore in capital expenditure on green projects over the next three years. The focus is on expanding solar and wind energy, with additional interest in green hydrogen and battery storage.

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NTPC Green Energy IPO:

NTPC Green Energy Ltd is set to launch its ₹10,000-crore IPO next week and has plans for ₹1 lakh crore capital expenditure on green projects over the next three years. The company aims to expand its renewable energy portfolio, with 16 GW of solar and wind projects in the pipeline.

Out of the 16 GW, NTPC Green plans to complete 3 GW by FY25, 5 GW by FY26, and 8 GW by FY27. The company primarily focuses on solar (90%) and wind (10%) projects but also intends to explore green hydrogen and battery storage in the future.

The IPO, opening on November 19 and closing on November 22, offers shares in the price band of ₹102-₹108 per share. The net proceeds will be used for investments in NTPC Renewable Energy Ltd, to repay borrowings, and for general corporate purposes.

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About NTPC Green Energy Limited:

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, focuses on developing renewable energy projects like solar and wind power. It aims to expand clean energy capacity, support India’s carbon emission reduction goals, and contribute to the country’s target of 500 GW of non-fossil fuel-based energy by 2030. NGEL also explores energy storage and hybrid solutions.

Also Read: NTPC Green Energy IPO: Shares Open For Subscription On November 19

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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