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Cabinet approves higher green investment limits for NTPC and NLC India

Economic Times

Economic Times · 1m ago

Cabinet approves higher green investment limits for NTPC and NLC India

The Indian Cabinet has approved increased investment limits for NTPC and NLC India to enhance non-fossil fuel capacities. NTPC can invest up to Rs 20,000 crore in NTPC Green Energy Limited, while NLC India can inject Rs 7,500 crore into NLC India Renewables Limited. The decision aligns with India's renewable energy targets, aiming for NTPC’s 60 GW capacity by 2032 and NLC’s 10.1 GW by 2030. The investments exclude nuclear energy funding.

Related News

Rajasthan inks MoUs with four CPSEs for setting up solar power, thermal, green hydrogen projects

Thehindubusinessline

Thehindubusinessline · 1y ago

Rajasthan inks MoUs with four CPSEs for setting up solar power, thermal, green hydrogen projects

The Rajasthan government has signed memoranda of understanding (MoUs) with NTPC, CIL, NLC India, and SJVN for the development of solar power and green hydrogen manufacturing facilities. The agreements include the addition of supercritical units to the Chhabra Thermal Power Plant by NTPC and the exploration and execution of 4,100 MW power projects by Coal India. Additionally, the MoUs cover the formation of joint ventures for lignite-based and solar power plants, as well as long-term power usage agreements for solar power projects by NLC India and SJVN.

Cabinet Clears INR 20,000 Cr Green Energy Push by NTPC

StartupTalky

StartupTalky · 1m ago

Cabinet Clears INR 20,000 Cr Green Energy Push by NTPC

The Indian government's Cabinet has approved a significant INR 20,000 crore investment for the state-owned NTPC to achieve 60 GW of renewable energy capacity by 2032, as part of a broader push for green energy. The investment will also allow subsidiary NTPC Green Energy Limited to support NTPC Renewable Energy Limited. This initiative aligns with India's commitment to reducing fossil fuel dependency and achieving net-zero emissions by 2070, creating job and entrepreneurship opportunities in the process.

Tamil Nadu cabinet approves Foxconn's Rs 13,180-crore display module assembly unit

Economic Times

Economic Times · 10m ago

Tamil Nadu cabinet approves Foxconn's Rs 13,180-crore display module assembly unit

- Tamil Nadu cabinet approves Rs 13,180 crore investment by Yuzhan Technology (India), a unit of Foxconn, generating 14,000 jobs. - Foxconn considering Rs 1,000 crore investment to set up smartphone display module assembly unit in Tamil Nadu for Apple. - Foxconn acquires 500,000 square feet facility near Chennai for manufacturing smartphone modules, encouraging other contract manufacturers to use its components. - Foxconn's investment is the largest among 14 projects approved by the Tamil Nadu Cabinet, with a cumulative investment of Rs 38,698.80 crore. - Tata Motors to invest Rs 9,000 crore in manufacturing Jaguar Land Rover vehicles in Ranipet. - Other investments approved include Leap Green Energy Pvt Ltd (Rs 10,375 crore), Freetrend Industrial India (Rs 1,000 crore), Kaynes Circuits India (Rs 1,395 crore), Ascent Circuits (Rs 613.6 crore), and Lucas TVS (Rs 510 crore).

State-run NTPC's green energy arm files for $1.2 bn IPO

VCCircle

VCCircle · 11m ago

State-run NTPC's green energy arm files for $1.2 bn IPO

India's NTPC Green Energy, a unit of state-owned power producer NTPC, has filed for a $1.19 billion initial public offering (IPO). The company aims to take advantage of India's growing renewables expansion plans and the strong equities market. The IPO market in India is flourishing this year, with over 235 companies raising more than $8.6 billion. NTPC Green Energy plans to use the funds to repay its unit NTPC Renewable Energy's loans. The company's move towards green energy reflects the wider trend in India's power sector.

Union Cabinet approves restructuring, extension of PM SVANidhi scheme for street vendors

Economic Times

Economic Times · 2d ago

Union Cabinet approves restructuring, extension of PM SVANidhi scheme for street vendors

The Union Cabinet of India approved the restructuring and extension of the PM SVANidhi scheme for street vendors until March 31, 2030, with an allocation of Rs 7,332 crore. The scheme now offers increased loan limits and includes provisions for UPI-linked RuPay credit cards. It aims to enhance street vendors' entrepreneurship, financial literacy, and digital skills. The effort addresses vendors' financial struggles while promoting digital payments and formal economic integration, benefiting 1.15 crore street vendors.

NTPC Green Energy launches JV with Maharashtra State Power ahead of stock market debut tomorrow | Company Business News

Livemint

Livemint · 9m ago

NTPC Green Energy launches JV with Maharashtra State Power ahead of stock market debut tomorrow | Company Business News

NTPC Green Energy Limited has formed a joint venture with Maharashtra State Power Generation Company Limited to develop, operate and maintain renewable energy parks in Maharashtra. The joint venture, named Mahagenco NTPC Green Energy Private Limited, will focus on developing renewable energy projects in the state. NTPC Green Energy is a wholly-owned subsidiary of NTPC Ltd, while MAHAGENCO is owned by the Government of Maharashtra. The announcement comes ahead of the listing of NTPC Green Energy's IPO, scheduled for November 27.

NIIF, BII, Eversource to exit Ayana Renewable in $2.3-bn deal

VCCircle

VCCircle · 6m ago

NIIF, BII, Eversource to exit Ayana Renewable in $2.3-bn deal

The National Investment and Infrastructure Fund (NIIF), British International Investment (BII), and Eversource Capital are selling Ayana Renewable Power to ONGC NTPC Green Pvt. Ltd (ONGPL) for $2.3 billion. ONGPL is a joint venture of state-run Oil and Natural Gas Corporation and NTPC Green Energy Ltd. Ayana, launched by BII in 2018, operates 4.1 GW of wind and solar assets, and this deal marks ONGPL's entry into the renewable energy sector.

NLC India arm bags TNGECL contract to develop standalone BESS projects

Economic Times

Economic Times · 2m ago

NLC India arm bags TNGECL contract to develop standalone BESS projects

NLC India Ltd's subsidiary, NLC India Renewables, secured a contract from Tamil Nadu Green Energy Corporation Ltd for developing standalone battery energy storage system (BESS) projects. This marks NLC's first large-scale BESS project, with a total capacity of 250 MW/500 MWh, ensuring two complete charging/discharging cycles for on-demand use. The project employs a build-own-operate model, receiving viability gap funding support, and was awarded through competitive bidding.

NTPC Green sets price band for $1.2 bn IPO

VCCircle

VCCircle · 9m ago

NTPC Green sets price band for $1.2 bn IPO

NTPC Green Energy has set a price range of 102 rupees to 108 rupees per share for its upcoming $1.19 billion IPO in India. The renewable energy company's IPO will open for bids on November 19 and close on November 22, with large "anchor" investors bidding on November 18. NTPC Green is a unit of state-owned power company NTPC and plans to use the proceeds to invest in its subsidiary NTPC Renewable Energy and repay debt. India's IPO market has been strong, despite recent large IPOs receiving a lukewarm response from investors due to a slide in the stock market.

IPO-bound NTPC Green Energy targets investments worth ₹1 lakh crore in wind, solar assets by FY27 | Company Business News

Livemint

Livemint · 9m ago

IPO-bound NTPC Green Energy targets investments worth ₹1 lakh crore in wind, solar assets by FY27 | Company Business News

NTPC Green Energy, a leading renewable energy company in India, plans to invest up to ₹1 lakh crore in solar and wind assets by FY27. The company aims to raise ₹10,000 crore through its upcoming IPO and generate the remaining funds through internal accruals. NTPC Green Energy, a subsidiary of NTPC Ltd, currently has an installed capacity of 3,220 MW and plans to increase it to 19,000 MW by March 2027. The IPO will be open from November 19-22 and is one of the largest offerings in recent times. The company also has plans for green hydrogen, pump storage power, and energy storage.

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