India has achieved a major milestone in its renewable energy efforts, with the country’s total renewable energy capacity crossing the 200 GW (gigawatt) mark as of October 2024. The Central Electricity Authority reported that the current renewable energy generation capacity is now at 201.45 GW.
When including the 8,180 MW (megawatts) of nuclear capacity, the total non-fossil fuel-based power now comprises nearly half of the nation’s total installed electricity generation capacity, indicating a robust commitment to clean energy and enhancing India’s position as a leader in the global energy transition.
The Indian government has introduced several initiatives designed to promote and accelerate the growth of renewable energy capacity nationwide, with an ambitious goal of achieving 500 GW of installed electric capacity from non-fossil sources by 2030.
Prominent programs such as the National Green Hydrogen Mission, PM-KUSUM, PM Surya Ghar, and PLI schemes for solar PV modules highlight the government’s strategic emphasis on increasing energy generation while minimising dependence on fossil fuels.
Here are a few upcoming green energy initial public offering (IPO):
NTPC Green Energy
NTPC Green Energy, a subsidiary of state-owned power company NTPC, is expected to launch its initial public offering (IPO) to raise Rs. 10,000 crores in the first week of November, according to sources.
The company has indicated that nearly Rs. 7,500 crores of the raised funds will be allocated to repay or prepay some or all of the outstanding loans of its subsidiary, NTPC Renewable Energy Ltd (NREL). The remaining funds will be directed toward general corporate needs.
As of August 2024, the operational capacity of NTPC Green Energy consists of 3,071 MW from solar projects and 100 MW from wind projects.
The NTPC group has set a goal of achieving 60 GW of renewable energy capacity by 2032, currently holding 3.5 GW of installed capacity, with more than 28 GW under development.
Established in 2022, NTPC Green Energy is recognized as a ‘Maharatna’ central public sector enterprise, featuring a diverse renewable energy portfolio that encompasses solar and wind resources across more than six states.
As of 30th June 2024, the company ranks among the top 10 renewable energy providers in India based on operational capacity.
With a market cap of Rs. 4.11 lakh crores, the shares of NTPC surged by 2 percent on BSE to Rs. 425.95 on Friday. The stock has delivered positive returns of nearly 75.6 percent in one year, as well as around 37.3 percent returns year-to-date.
NTPC Limited is primarily involved in the generation and sale of bulk power to State Power Utilities, along with providing consultancy, project management & supervision, energy trading, oil & gas exploration and coal mining.
NLC India Green Energy
NLC India Limited is planning to raise funds through an initial public offering (IPO) of its wholly-owned subsidiary, NLC India Renewables Limited, expected to take place in the first quarter of the upcoming financial year, according to sources.
The funds raised from the IPO will be used in the company’s clean energy expansion plans. Additionally, NLC India is looking to secure soft loans from international companies and banks to further these goals.
NLC India aims to increase its renewable energy capacity significantly, planning to expand from the current 1.4 GW to 6 GW by 2030.
With a market cap of Rs. 36,732 crores, the shares of NLC India surged by nearly 1.2 percent to Rs. 265.1 on Friday. The stock has delivered multibagger returns of nearly 100.3 percent in one year, and around 5.8 percent of positive returns year-to-date.
NLC India Limited is engaged in the business of mining of lignite, coal and generation of power by using lignite as well as renewable energy sources and consultancy services.
SJVN Green Energy
Satluj Jal Vidyut Nigam Limited (SJVN) is preparing to launch an Initial Public Offering (IPO) for its subsidiary, SJVN Green Energy Ltd (SGEL), as part of a broader strategy to expand its renewable energy capabilities, as per sources.
SGEL aims to achieve an installed capacity of 25,000 MW by 2030 and 50,000 MW by 2040.
SJVN Green Energy is expected to list its initial public offering (IPO) after the NTPC Green IPO, which is expected to take place by the end of 2024.
The exact size and pricing details for the SJVN Green Energy IPO are yet to be finalised but will be crucial for funding SGEL’s expansion plans.
With a market cap of Rs. 48,002.5 crores, the shares of SJVN surged by 3.8 percent to Rs. 123.45 on Friday. The stock has delivered positive returns of nearly 64.6 percent in one year, as well as around 31.4 percent returns year-to-date.
SJVN Limited is primarily engaged in the business activity of electricity generation, along with providing consultancy for hydro-power projects and energy trading.
Written by Shivani Singh
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