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India’s NTPC Plans Renewables IPO For Huge Green Push

  • Top power generator wants $34 billion clean energy expansion
  • Share of fossil fuels in firm’s energy mix will be cut by 2032
The closed coal-fired NTPC Ltd. Badarpur Thermal Power Station.

The closed coal-fired NTPC Ltd. Badarpur Thermal Power Station.

Photographer: Prashanth Vishwanathan/Bloomberg
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State-run NTPC Ltd., India’s largest power generator, aims to take its renewables unit public to help fund a 2.5 trillion rupees ($34 billion) clean energy expansion, according to a company official with knowledge of the plans.

The New Delhi-based producer wants to list its NTPC Renewable Energy Ltd. unit in the next fiscal year, which begins in April 2022, the official said, requesting anonymity as the discussions are private.