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.
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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.