NTPC Limited transfers renewable energy assets to NTPC Green Energy Limited

Under the aegis of the National Monetisation Pipeline of Government of India, 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 on February 28, 2023. This is a transfer of renewable assets or entities owned by NTPC to NGEL, its wholly-owned subsidiary, incorporated on April 07, 2022.

The transactions consisted of transfer of 15 renewable assets, through a business transfer agreement and the transfer of 100 per cent equity shareholding of NTPC Renewable Energy Limited, a wholly-owned subsidiary of NTPC, through a share purchase agreement executed on July 08, 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 renewable energy capacity target by financial year 2032.

Recently in February 2023, NTPC Renewable Energy Limited issued a request for proposals for the development of 310 MW floating and ground-mounted solar projects at Damodar Valley Corporation reservoirs. The tender was released on behalf of Green Valley Renewable Energy, a subsidiary of NTPC REL in a joint venture with DVC.