NTPC transfers RE assets to its green energy subsidiary

This is in line with the group’s plan to reach a renewable energy capacity of 60 GW by FY32.

India’s NTPC has completed the consolidation of its renewable energy portfolio to its wholly-owned subsidiary NTPC Green Energy Limited.

In a statement, India’s Ministry of Power said the transaction facilitated by the National Monetization Pipeline of the Government of India involved the transfer of 15 renewable energy assets.

READ MORE: NTPC eyes raising $750m Japanese Yen loan

The transfer was completed through a business transfer agreement and a transfer of 100% equity shareholding of NTPC Renewable Energy  Limited through a share purchase agreement.

This move is part of the group’s corporate business plan to achieve 60 gigawatts of renewable energy capacity by the financial year 2032.

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