NTPC likely to monetise 10-20% stake in NGEL by March 2023, say sources

New Delhi: Maharatna PSU NTPC Ltd is likely to offload between 10 to 20 percent stake in its green arm, NTPC Green Energy Ltd (NGEL), by March 2023 as several potential investors have shown interest in picking up stake, said two sources aware of the matter. They added that the deal is likely to fetch NTPC between Rs 3,000-5,000 crore. "The plan has been in the pipeline for nearly a year and it is very likely to be closed in this financial year itself," said one of the two sources quoted above.

'Asset monetisation strategic decision for NTPC'

Another source who spoke to PSU Watch said that the asset monetisation plan is a strategic decision for NTPC. "It will help bring in investments through the new investor for the implementation of the ambitious plan of putting in place 60 GW of green energy projects by 2032," said the source.

NTPC Renewable Energy incorporates Green Valley Renewable Energy as JV with DVC

NTPC has identified renewable energy projects of 2,861 MW which are slated to be transferred to NGEL, along with NTPC RE Limited.

'Bidders keen to pick up stake in NGEL'

While stating that the stake sale process has garnered much interest from buyers, one of the sources quoted above said that ArcelorMittal, Brookfield and Canada Pension Plan Investment Board are among over a dozen entities that have shown interest in picking up stake in NTPC Green Energy Ltd.

NTPC has plans to raise Rs 10,000 crore to 15,000 crore from asset monetisation in the next three years.

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