NTPC’s shareholders approve raising Rs 18,000 crore through NCDs

By: |
September 30, 2021 6:50 AM

The ministry of power had extended the tenure of Singh from February 4, 2021, till July 31, 2025, the date of his superannuation, or until further orders, whichever is earlier.

Also, given the company’s future capex requirements and its conviction to foray into new verticals, such as renewables and green hydrogen, the shareholders have approved raising the borrowing limits to Rs 2.25 lakh crore from Rs 2 lakh crore earlier.Also, given the company’s future capex requirements and its conviction to foray into new verticals, such as renewables and green hydrogen, the shareholders have approved raising the borrowing limits to Rs 2.25 lakh crore from Rs 2 lakh crore earlier.

The shareholders of NTPC, India’s largest power producer, have approved raising Rs 18,000 crore via private placement of non-convertible debentures (NCDs) to meet the company’s capital expenditure and working capital requirements.

Also, given the company’s future capex requirements and its conviction to foray into new verticals, such as renewables and green hydrogen, the shareholders have approved raising the borrowing limits to Rs 2.25 lakh crore from Rs 2 lakh crore earlier.

The shareholders have reappointed Gurdeep Singh as the chairman & managing director (CMD) of the company. Singh was appointed as CMD on January 28, 2016, for five years from the date of assumption of charge of the post, or until further orders.

The ministry of power had extended the tenure of Singh from February 4, 2021, till July 31, 2025, the date of his superannuation, or until further orders, whichever is earlier.

NTPC’s present generation capacity stands at 66 GW, out of which 54 GW or 82% is coal-fired. Going ahead the company is planning to reduce the net energy intensity by 10% in the next 10 years. To achieve the target NTPC plans to add nearly 4,000 MW of clean energy capacity every year, which would be scaled up to 8,000 MW closer to 2032.

The power producer is also exploring development of large-scale offshore wind power plants with Oil & Natural Gas Corp through a joint venture.

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