NTPC sets up wholly-owned subsidiary in Mauritius for developing floating solar, BESS project

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.

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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."

What the subsidiary will do

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.

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Capital and shareholding

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.

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