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NTPC Green Energy IPO

ICICIdirect Research 20 Sep 2024 DISCLAIMER

NTPC Green Energy, a subsidiary of state-run NTPC Ltd, has filed its DRHP (draft red herring prospectus) for an initial public offering (IPO) aimed at raising Rs 10,000 crore. This IPO will consist solely of a fresh issue, with no offer-for-sale component included

The proceeds from the IPO will be used to fund the aggressive capex lined up by the company to scale its renewable energy portfolio and take share of green energy to 45% by 2032

As of August 2024, the company’s operational capacity comprised 3071 MW from solar projects and 100 MW from wind projects, across six states

Recently, government has approved a joint venture between NPCIL and NTPC to build four 700 MWe nuclear power plants at Mahi-Banswara in Rajasthan. The Mahi-Banswara project of 4x700 MW Pressurised Heavy Water Reactors (PHWR) will be implemented by ASHVINI. This approval will pave the way for NTPC in the nuclear power space and further the objective of the company to scale up its non-fossil fuel portfolio by 2032.

Overall, the NTPC group aims to reach 60 GW of renewable energy capacity by 2032. Currently, it has 3.5 GW of installed capacity and over 28 GW in progress

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