NTPC transfers renewable energy assets to NTPC Green Energy

NTPC Limited has completed the closing of the transactions in relation to consolidating its renewable energy portfolio under one umbrella entity i.e. NTPC Green Energy Limited (NGEL).

This is a transfer of renewable energy assets/entities owned by NTPC to NGEL, its wholly-owned subsidiary, incorporated on April 7, 2022. The transactions comprised of transfer of 15 renewable energy assets, through a business transfer agreement, and the transfer of 100 per cent equity shareholding of NTPC Renewable Energy Limited, a wholly-owned subsidiary of NTPC, through a share purchase agreement (SPA), executed on July 8, 2022. This scheme has been implemented as a part of the corporate business plan of the group to provide an impetus to its focus on achieving the 60 GW renewable energy capacity target by 2031-32. The National Monetisation Pipeline has facilitated this consolidation as a means to monetise and unlock the value of the country’s assets.