NTPC Green Energy signs MoU with Rajasthan Govt for 25 GW of renewable energy projects – EQ
In Short : NTPC Green Energy has signed an MoU with the Rajasthan government to develop 25 GW of renewable energy projects. This initiative aims to leverage the state’s solar and wind potential, aligning with India’s sustainability goals. The collaboration is expected to boost local economies, create jobs, and enhance energy security while contributing to the nation’s renewable energy capacity.
In Detail : State-run power major NTPC’s wholly-owned subsidiary, NTPC Green Energy Ltd (NGEL) announced that it has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan for development of 25 GW of Renewable Energy Projects in the state.
In a regulatory filing, the company said that the MoU was exchanged between KS Sundaram, Director (Projects), NGEL and Alok, (IAS) ACS (Energy) in the presence of the Chief Minister of Rajasthan. Senior officials from Government of Rajasthan and NGEL were also present on the occasion.
NTPC Green Energy, earlier this month, filed a draft red herring prospectus (DRHP) with SEBI to launch Rs 10,000 crore initial public offering (IPO). It is likely that the IPO will be followed by an offer for sale at an appropriate time later. NTPC is eyeing the twin benefits of both the parent and green arm hitting new highs in valuation with the proposed listing of the latter.
Earlier, in a conversation with FinancialExpress, NTPC Chairman and Managing Director Gurdeep Singh had said that the listing of its wholly owned green subsidiary will increase the valuation of the parent company. “Our balance sheet is very robust and healthy, and we can raise money easily. However, as a stated objective, we will go for 10 per cent (offer) to start with, followed by 15 per cent through OFS (Offer for Sale),” he had said.
