NTPC receives 13 bids for minority stake sale in Green Energy arm

05 Sep 2022 CW Team

A dozen corporations, primarily global asset managers and financiers, have expressed interest in acquiring a share in NTPC's green energy division. The thermal power business intends to sell a minority stake in order to raise up to Rs 20 billion.

Canada Pension Plan Investment Board (CPPIB), Brookfield, Abu Dhabi's TAQA, and National Investment and Infrastructure Fund are among those who have filed proposals (NIIF). Petronas, Malaysia's oil and gas firm, and ArcelorMittal, the world's largest steelmaker, have both made bids for the project.

According to senior officials, NTPC has quadrupled its target for non-fossil fuel based power to 130 GW by 2032 at a projected cost of $30 billion.

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