State-run power sector giant NTPC has drawn up a Rs 15,000-crore disinvestment plan involving NTPC Renewable Energy. North Eastern Electric Power Corporation and NTPC Vidyut Vyapar Nigam, a source said.
NTPC Disinvestment around 1,500 Cr.
Besides the listing of the three firms, the plan to meet its disinvestment target of around Rs 1,500 crore also includes the sale of its stake in NTPC-SAIL Power Company Ltd (NSPCL). Which is due in this financial year, the source said.
NSPCL a Joint Venture Company of NTPC and SAIL (50:50 Equity) was incorporated on February 8,1999. It formed to own and operate captive power plants for SAIL’s steel manufacturing facilities located at Durgapur, Rourkela and Bhilai.
According to the source, the Rs 15,000 crore disinvestment plan in line with the performance targets set by the company.
With the Ministry of Power which includes listing of NTPC Renewable Energy Limited (NTPCREL). North Eastern Electric Power Corporation Limited (NEEPCO) and NTPC. Vidyut Vyapar Nigam Limited (NVVNL) by March 2024.
The source said the listing of NTPCREL expected by October next year. NTPCRL, a 100% subsidiary of NTPC Limited.
Currently a renewable project portfolio of 3,450 MW, of which 820 MW projects under construction and 2,630 MW projects won.
For which PPAs (Power Purchase Agreements) are pending to be executed. NTPC has incorporated NTPCREL with Registrar of Companies.
NCT of Delhi and Haryana on 7th October, 2020 to start renewable energy business. The listing of NTPCREL assumes significance in view of the company’s ambitious plan to have 60 GW of renewable energy capacity by 2032. The RE installed capacity of the firm will be 45 per cent of the envisaged 130 GW by 2032.
Capacity of renewable energy:
Earlier, the company had planned to have a minimum capacity of 32 gigawatts (GW) through renewable energy (RE) sources.
which is about 25 percent of its total power generation capacity by 2032.
The current installed capacity of NTPC Group is 66,900 MW (including 13,425 MW through JVs/subsidiaries) which includes 47 NTPC stations (23 coal based stations.
7 gas based stations, 1 hydro-station, 1 small hydro, 14 solar PV and 1 wind – based stations) and 26 joint venture stations (9 coal based, 4 gas based, 8 hydro, 1 small hydro, 2 wind and 2 solar PV).
The source said the equity component of NTPCREL around Rs 50,000 crore and the rest requirement met through long-term loans, debentures, bonds and other such avenues. The plan to have 60 GWRE capacity by 2032 will entail an investment of Rs 2.5 lakh crore.
Second Branch to list:
The second branch the company wants to list is NEEPCO, in which it had acquired 100 percent equity stake held by the Government of India (GoI) on March 27,2020, making it a wholly owned subsidiary.
NTPC acquired NEEPCO for Rs 4,000 crore. Also, another branch that listed on the stock exchanges is NVVN, a wholly owned subsidiary of NTPC.
Initially, Incorporated on November 1, 2002 to carry the business of buying and selling both conventional and non-conventional electrical power.To venture into RE, e-mobility and hydrogen mobility.