Indian power producer NTPC to sell stake in green energy business

Indian power producer NTPC to sell stake in green energy business

A signboard of NTPC is seen outside its office in Mumbai, India, July 23, 2018. REUTERS/Francis Mascarenhas/File Photo

India’s largest power producer NTPC Ltd aims to sell a 20% stake in its green energy business this fiscal year, expecting to raise up to 30 billion Indian rupees ($363.97 million), three government sources said.

The deal marks the first green transaction by an Indian state company, which has drawn interest from investors, such as Canada Pension Plan Investment Board (CPPIB), Malaysia’s Petronas and Brookfield.

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