NTPC‘s subsidiary, NTPC Green Energy, has entered a joint venture with MAHAPREIT (Mahatma Phule Renewable Energy and Infrastructure Technology Ltd.) to develop renewable energy parks and projects across India.

What Happened: On Thursday, NTPC announced that its wholly-owned subsidiary, NTPC Green Energy, has entered into a MAHAPREIT. The partnership aims to undertake the development of 10 gigawatts of renewable energy (RE) parks and projects in Maharashtra and other parts of the country.

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This joint venture agreement follows NTPC Green Energy’s recent move to file draft papers for an IPO with the Securities Exchange Board of India. The subsidiary aims to raise ₹10,000 crore via the IPO, with the draft papers indicating that only new shares will be issued, and existing shareholders will retain their stakes.

Analysts at Goldman Sachs valued the company at around ₹78,000 crore stating that the company’s earnings were in line with estimates. On the other hand, analysts at Kotak Securities said that the company’s earnings were sub-par.

Price Action: NTPC’s share price was down 0.91% to trade at ₹432.15 in afternoon trade on Thursday.

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