NTPC transfers 15 Renewable Energy assets to NTPC Green Energy; stock zooms ~2%

11 Jul 2022 , 10:02 AM

NPTC Limited informed that it approved the transfer of 15 renewable energy assets to NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC, through a business transfer agreement dated July 08, 2022.

Further, it has also decided to Transfer 100% equity shareholding held in NTPC Renewable Energy Limited a wholly-owned subsidiary of NTPC, to NGEL through a share purchase agreement dated July 08, 2022.

Revenue from 15 RE assets transferred is Rs917.46 crore in FY2022, which is 0.68% of NTPC revenue of Rs1,34,994.31 crore (on consolidated basis) as on Mar 31, 2022.

Net worth of 15 RE assets is Rs1,364.74 crore as on Mar 31, 2022, which is 1.01% of Net-worth of NTPC i.e., Rs1,35,373.74 crore (total equity attributable to owners) as on Mar 31, 2022.

Revenue from NREL proposed to be transferred is Rs0.78 crore in FY 2022, which is 0.0006% of NTPC revenue of Rs1,34,994.31 crore (on a consolidated basis) as on Mar 31, 2022. The net worth of NREL is Rs727.78 crore as on Mar 31, 2022, which is 0.52% of the Networth of NTPC i.e., Rs1,39,134.15 crore as of Mar 31, 2022.

The sale/transfer of assets is to be completed within 120 days from the date of execution of the agreement.

The consideration for transfer of 15 RE assets has been fixed at Rs10,066.99 crore based on book value as per the Audited Financials as on Mar 31, 2022, payable through combination of cash/equity shares/debt liability.

NTPC Ltd is currently trading at Rs145.85 up by Rs2.35 or 1.64% from its previous closing of Rs143.50 on the BSE. The scrip opened at Rs144.35 and has touched intraday high and low of Rs146.95 and Rs143.95 respectively.