New Delhi: India’s public sector companies are moving forward with plans to list their renewable energy subsidiaries. The government’s push for clean energy targets is driving PSUs like NTPC, ONGC, and SJVN to enter or expand in the green energy space. NTPC Green Energy Limited has filed its Draft Red Herring Prospectus (DRHP) with SEBI, seeking to raise ₹10,000 crore through an IPO aimed at repaying loans and corporate purposes. The public issue could launch by November 2024.
Meanwhile, NHPC and SJVN are expected to follow suit, with NHPC focusing on its solar and wind projects under its subsidiary. SJVN’s renewable energy expansion plans are backed by significant capital expenditure, while ONGC Green, formed earlier in 2024, is also eyeing growth in biofuels and wind energy. Though official IPO announcements for these entities are pending, they are expected to seek public funding soon.
NLC India is also restructuring its renewable energy assets with plans for a public issue through its subsidiary, NLC India Renewables Ltd. These IPOs are anticipated to generate significant investor interest as India targets 50 GW of annual renewable energy capacity additions to meet its 2030 goals.
