PSUs gears up to list their green ventures on exchanges
This initiative will also enable the green energy venture to secure more affordable funding from international markets.
Encouraged by the strength of the primary market, public sector companies are preparing to separate their green energy division and make it available for trading on the stock exchange.
This initiative will also enable the green energy venture to secure more affordable funding from international markets.
Some of the large PSUs such as Coal India, ONGC, SJVN, NHPC, India Oil, and NLC India have already formed new companies for their new green energy ventures and enjoy the tax reliefs announced by the government.
NTPC Green recently filed papers with SEBI for a Rs 10,000-crore initial public offering as it already has a huge solar energy asset. Other PSU green energy ventures would target to raise similar amount through the IPO, said sources.
Read Also : IEX Power Market UpdateSJVN plans to invest Rs 12,000 crore capex in this fiscal mostly in renewable projects through its subsidiary SJVN Green Energy which targets a capacity of 25,000 MW by 2030 and 50,000 MW by 2040.
State-owned Coal India has incorporated two new companies — CIL Navi Karniya Urja and CIL Solar PV — for the development of the solar photovoltaic module. It aims to add 5 gigawatts (GW) of renewable energy capacity by 2028, a year earlier than the company had envisaged.
The Centre has set an ambitious target of having an installed renewable energy capacity of 500 GW by 2030. As of May 26, 2023, coal/lignite CPSEs have installed solar capacity of about 1,656 MW and windmills of 51 MW.
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