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NHPC weighs IPO, stake sale of clean energy arm
Mint Mumbai
|July 20, 2023
State-run NHPC Ltd plans to take its clean energy subsidiary NHPC Renewable Energy Ltd (NREL) public or sell its stake to strategic investors through private placements in two-three years, Rajendra Prasad Goyal, director, finance, NHPC, said in an interview.
The hydropower major is looking to add solar capacity, and once the projects in the pipeline are commissioned, they will be moved to NREL.
Currently, NHPC's green energy projects, primarily comprising solar power, are under the parent company, though the green energy subsidiary was incorporated in February 2022 for developing its renewable, small hydro and green hydrogen portfolio. "Our plan is to first develop projects under NHPC, and then we will demerge these projects and shift them to NHPC Renewable and then list the company, or bring in strategic investors to create more value. It will take two-three years. We will first add capacity and shift the projects," said Goyal.
This story is from the July 20, 2023 edition of Mint Mumbai.
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