ArcelorMittal, Brookfield and Canada Pension Plan Investment Board are among over a dozen entities that have evinced interest in buying stake in NTPC Green Energy Ltd. NTPC Green Energy Ltd (NGEL) is a wholly-owned subsidiary of state-owned NTPC Ltd. The expression of interest (EoI) for stake sale of 5 to 10 per cent in NGEL was invited in June this year.
"The NTPC has received 13 bids for divesting up to 5-10 per cent stake in the NGEL. The EoI for the stake was issued around June. The bidders include ArcelorMittal, Brookfield, and Canada Pension Plan Investment Board. The winners will be finalised by the end of the month (September)". NTPC expects the valuation of the NGEL to be around Rs 2,000 crore.
The existing renewable energy capacity of the company is 2,500 MW while another 4,000 MW is under construction. NTPC has planned to raise Rs 10,000 crore to 15,000 crore from asset monetisation in the next three years. Regarding coal imports, the sources said that the company has imported 10 million tonne so far this fiscal and may need to import another couple of million tonne if power demand goes up.