NTPC receives 13 bids for minority stake sale in NGEL

NTPC Limited has received interest from 13 companies for minority stake in NTPC Green Energy Limited (NGEL).

The company is looking to sell minority stake to raise up to Rs 20 billion through a private placement that would be followed by an initial public offering by the green energy arm. Among the ones who have submitted bids are Canada Pension Plan Investment Board (CPPIB), Brookfield, Abu Dhabi’s TAQA and India’s National Investment and Infrastructure Fund (NIIF). Malaysian oil and gas company Petronas and global steel major ArcelorMittal have also put their bids for the same. The stake sale of NGEL is a part of the asset monetisation target of NTPC pegged at Rs 150 billion for three years. Along with the listing of NGEL, NTPC is also looking to pare its stake in NTPC Vidyut Vyapar Nigam Limited (NVVN), North Eastern Electric Power Corporation Limited (NEEPCO), and NTPC-SAIL Power Company Limited.