PSU stocks on way to announce IPO for their green energy segment
India ranks as the world’s third-largest energy consumer. The country is planning to decrease its carbon intensity by less than 45% by the 2030 and to achieve 50% renewable energy in its power mix while attaining the net-zero carbon emissions by 2070.
![PSU stocks on way to announce IPO for their green energy segment](https://www.psuconnect.in/sdsdsd/stock4.jpg)
Some PSU sectors are willing to go for an IPO session soon, some of them are here-
NTPC Green Energy Ltd.
NTPC Green Energy Ltd aims to launch its IPO in the fiscal year ending March 2025. The company has the target to divest 25% of its green energy division to the public, to secure capital for the expansion of its non-fossil fuel ventures.
The green energy arm of NTPC will probably draft a red herring prospectus(DRHP) by July for listing on the stock exchanges, paving the way for a Rs 10,000 crore IPO by November 2024. Recently, NTPC Green Energy Ltd. (NGEL) has finalized its selection of investment bankers for this impending listing.
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SJVN Green Energy Limited develops renewable energy projects, particularly solar projects. The company may plan to develop solar projects with a capacity of more than 1.3 GW in Maharashtra under the Mukhya Mantri Saur Krushi Vahini Yojana 2.0.
SJVN Green Energy Limited has planned for an IPO, which is expected to take place around November.
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NHPC arm NREL
NHPC renewable energy arm NREL is soon augmented for IPO listing. NHPC anticipates commissioning of 1,000 MW of solar projects under NREL by FY26-27.
NHPC has set a target to increase its total installed capacity, planning to double it from 7,000 MW to 14,000 MW by FY2027, primarily leveraging NREL.
ONGC Green Ltd
In March, the company board approved a Rs 990 million equity investment in its newly established wholly-owned subsidiary, ONGC Green. Additionally, its board has granted in-principle approval for an additional investment of Rs 11 billion in ONGC Green.
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