By FY27, the IPO-bound NTPC Green Energy (NGEL) intends to invest Rs 1 lakh crore in new initiatives and capacity expansion in areas like green hydrogen and storage projects.
Gurdeep Singh, chairman and managing director, stated on Wednesday that the company, which currently has an operating capacity of 3.3 gigawatts (GW), aims to quadruple that capacity by FY25 and increase it to 19 GW by FY27. He also mentioned that 11 GW is currently being built. He claimed that by 2030, the company’s capacity would reach 60 GW, with a 90:10 solar to wind ratio.
He stated that solar electricity costs Rs 5 crore per MW, and wind power costs Rs 8 crore per MW for renewable energy producers. “To finish our projects, we need Rs 20,000 crore in equity because our leverage is 1:4,” Singh continued. The remaining funds will come from debt.”
He stated that the initial public offering (IPO) would generate approximately Rs 10,000 crore, with Rs 7,500 crore of the proceeds going towards debt reduction.
The NGEL IPO will go live on November 19 and will be priced between Rs 102 and Rs 108 per share. The last day is November 22. Among other joint ventures, NTPC Green has partnerships with Indian Oil and ONGC Green.
Additionally, the company is leasing 1,200 acres of land near Visakhapatnam to establish a hub where it would manufacture sustainable aviation fuel, methanol, green hydrogen, and other products. Singh said the company is currently working on a comprehensive project report for the same.
The corporation stated in its presentation that approximately 600 acres of land are set aside for green chemicals, 300 acres for an industrial hub, and 200 acres for shared infrastructure and a green belt.
