NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Ltd, has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan.
What Happened: The MoU, signed on Wednesday, 30th September 2024, during the Rising Rajasthan Investor Meet in New Delhi, is aimed at the development of 25 gigawatts of Renewable Energy Projects in Rajasthan.
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This development comes on the heels of NGEL’s joint venture with MAHAPREIT to develop 10 gigawatts of renewable energy parks across India, announced last week.
Earlier today, Jefferies shared a bullish stance on NTPC, indicating an 11% upside from the previous session’s closing price, as reported on 30th September 2024.
NTPC Green Energy has filed 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.
Read Next: Tata Power Inks ₹1.2 Lakh Cr MoU With Rajasthan Government For Power Infrastructure
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