About Company

• The Company was incorporated as “NTPC Green Energy Ltd” on April 7, 2022. The company is a wholly owned subsidiary of NTPC Ltd, a ‘Maharatna’ central public sector enterprise. The company is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of September 30, 2024, and power generation in FY2024.
• The company generates revenue by the sale of solar and wind power pursuant to Power Purchase Agreements to Indian government agencies and public utilities.
• The company’s renewable energy portfolio encompasses solar and wind power assets with an operational capacity of 3,220 MW of solar projects and 100 MW of wind projects across 6 states as of September 30, 2024.

• The company’s Portfolio consisted of 16,896 MWs including 3,320 MWs of operating projects and 13,576 MWs of contracted and awarded projects.  As of September 30, 2024, its Capacity under Pipeline together with its Portfolio consisted of 26,071 MWs.

• NTPC Green Energy has 17 offtakers across 41 solar projects and 11 wind projects. As of September 30, 2024, 9 of its offtakers were government agencies and public utilities with long-term PPAs of an average term of 25 years.

• As of September 30, 2024, the company is in the process of constructing 36 renewable energy projects in 6 states consisting of 13,576 MWsand the company owned ~ 8,900 acres of freehold land and ~45,700 acres of leasehold land relating to its projects
• The company derives benefits from parent company NTPC’s long-term experience in dealing with State DISCOMs, long-term relationships with financial institutions and ~5 decades of experience in execution of power projects.

• With strong parent support and a diversified portfolio with long-term PPA, the Company is able to maintain a healthy interest coverage ratio. Further, the company benefits from a strong balance sheet and AAA rating from CRISIL as of May 8, 2024.

Strengths

Competitive Strength 

• Promoted by NTPC Limited, which has extensive experience in executing large- scale projects, long-term relationships with offtakers and suppliers and financial strength;
• Portfolio of 16,896 MWs solar and wind projects as of September 30, 2024 with diversification across geographies and offtakers;
• Experienced team in renewable energy project execution and procurement as well as operating and maintenance;
• Growing revenues along with strong credit ratings that enable a low cost of capital employed;

• Experienced Management Team.

   

 Business Strategies 

• Continue to grow project pipeline through prudent bidding and strategic joint ventures with PSUs and private corporates;
• Focus on projects in new energy solutions like green hydrogen, green chemicals and storage;
• Drive efficiency and cost reductions in project execution and operating & maintenance;
• Continue to contribute to India’s sustainability efforts.

Company Promoters

Company Financials

NTPC Green Energy Limited's revenue increased by 1094.19% and profit after tax (PAT) rose by 101.32% between the financial year ending with March 31, 2024 and March 31, 2023.

Objects of the Issue

The company proposes to utilise the Net Proceeds towards funding the following objects

• Investment in the wholly owned Subsidiary, NTPC Renewable Energy Limited (NREL), for repayment/ prepayment, in full or in part of certain outstanding borrowings availed by NREL
• General corporate purpose.