New Delhi: State-owned NTPC Limited has incorporated a wholly-owned subsidiary in Mauritius to develop a proposed floating solar photovoltaic (FSPV) project with a battery energy storage system (BESS), the company said in a regulatory filing on Friday.
Follow The PSUWatch Channel on WhatsApp
In an intimation to the stock exchanges, NTPC said, "We wish to inform that NTPC Limited has incorporated 'NTPC (Mauritius) Energy Limited' a wholly-owned subsidiary in Mauritius on 26th June 2026."
Setting out the objects of the new arm, NTPC said, "The Company has incorporated NTPC (Mauritius) Energy Limited as its wholly-owned subsidiary for undertaking development of proposed Floating Solar Photovoltaic (FSPV) Project with Battery Energy Storage System (BESS) and undertake any Power Projects & other businesses related to power sector in Mauritius."
The entity belongs to the power generation industry, the filing said.
Follow PSU Watch on LinkedIN
The subsidiary has been set up with a capital of MUR 1,000,000 (one million Mauritian rupees), equivalent to Rs 19,80,000 at a MUR-to-INR exchange rate of 1.98, according to the annexure to the filing. NTPC holds 100 percent of the shares, which are to be subscribed in cash.
NTPC said that it will seek approvals for the same from the Ministry of Power, the Department of Investment and Public Asset Management (DIPAM) and the Registrar of Companies, Mauritius.
(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)