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.