NTPC Green plans to invest Rs 1 lakh cr in solar, wind assets by FY27
In the IPO, which will be open from November 19-22, the company is planning a fresh issue of shares worth up to Rs 10,000 crore at a price band of Rs 102-108 apiece.
NTPC Green plans to invest Rs 1 lakh cr in solar, wind assets by FY27
IPO-bound NTPC Green Energy aims to invest up to Rs 1 lakh crore in solar and wind assets by FY27, a top official said on Wednesday. According to Gurdeep Singh, the chairman and managing director, the company will require approximately Rs 20,000 crore in equity for its expansion, which represents around 20 percent of the total investment. He also mentioned that Rs 10,000 crore of this funding will be raised through the upcoming IPO.
NTPC Green Energy, which has an installed capacity of 3,220 MW right now, is aiming to take up the same number to 6,000 MW by March 2025, 11,000 MW by March 2026 and 19,000 by March 2027, Singh said, adding that 11,000 MW of projects are already under implementation at multiple levels.
It will operate at a level where 90 percent of the capacity will be solar, which requires an investment of Rs 5 crore per MW, and the rest will be wind which needs Rs 8 crore per MW, he said.
Read Also : IndianOil Wins Big at FICCI Indian Sports Awards 2024 for Championing Sports DevelopmentIn the IPO, which will be open from November 19-22, the company is planning a fresh issue of shares worth up to Rs 10,000 crore at a price band of Rs 102-108 apiece.
Investors will have to apply for a minimum of 138 shares and in multiples of 138 thereafter in the IPO, which is one of the biggest offerings by any companies in recent times and comes right after food delivery company Swiggy's Rs 7,000-crore share sale.
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