India’s largest power producer, NTPC, plans to raise funds via an initial public offering (IPO) for NTPC Green Energy Ltd (NGEL) in the current fiscal year. This comes after Malaysia’s Petronas withdrew its bid for a 20% stake in the green energy unit, valued at around INR60bn ($806m). NGEL is critical to drive NTPC’s ambitious clean energy programme, which aims to have 60 GW of renewables capacity by 2032 on a standalone basis and 130 GW on consolidated levels.
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