As per the company regulatory filing on July 9, NTPC is set to hive off 15 of its renewable energy projects into NTPC Green Energy Ltd which is a newly formed entity. “Revenue from 15 Renewable Energy assets proposed to be transferred is Rs. 917.46 Cr in FY 2022, which is 0.68% of NTPC revenue of Rs. 1,34,994.31 Cr (on consolidated basis) as on Mar 31, 2022. Net worth of 15 RE assets is Rs. 1,364.74 Cr as on Mar 31, 2022, which is 1.01% of Net-worth of NTPC i.e., Rs. 1,35,373.74 Cr (total equity attributable to owners) as on Mar 31, 2022," as per the company regulatory filing. Notably, NTPC Limited has been at the forefront of renewable energy capacity development and has been credited for bringing the lowest ever solar tariff in the country.
Meanwhile, NTPC Renewable Energy Limited (NTPC REL), a fully-owned subsidiary of NTPC, on Wednesday signed a Memorandum of Understanding (MoU) with Gujarat Alkalies and Chemicals Limited (GACL) to collaborate in setting up India's first commercial-scale green ammonia and green methanol projects.
The MoU aims for collaborations in the field of renewable energy, green methanol and green ammonia and mutually exploring the opportunities for the supply of 100 MW RE-RTC power and synthesizing 75 TPD green methanol and 35 TPD green ammonia for captive use for the production of various chemicals by GACL at its Vadodara and Dahej complex in Gujarat, the Union Ministry of Power said in a statement.
NTPC REL, a 100 per cent subsidiary of NTPC was incorporated in October 2020 to take care of the RE business of NTPC. This development comes in the backdrop of NTPC announcing its green hydrogen initiatives and plans to build the country's first pilot projects for synthesising green methanol, setting up green hydrogen filling stations, green hydrogen blending into PNG, and green energy storage project. This would be the first commercial-scale green ammonia and green methanol project in the country.
(With inputs from The Economic Times, ANI)
