India’s NTPC contemplates IPO to raise funds for 60 GW renewable target

The state-owned power company recently raised its renewable target from 32 GW.

India’s state-owned power producer NTPC is planning an initial public offering for its renewable energy arm, NTPC Renewable Energy Ltd, to raise funds in reaching its target of 60 GW installed capacity by 2032.

NTPC recently raised its renewable target from 32 GW in its accelerated bid to turn away from coal.

India’s largest power producer is also aiming for a 10% reduction in net energy intensity by 2032.

The state-run generator has 66 GW of generation capacity and about 17% of the nation’s installed fleet. More than 92% of the company’s installations run on fossil fuels.