Sources have told CNBC TV18 that 13 bids have been received for a minority stake sale by NTPC Green Energy Limited. NTPC's subsidiary has received bids from ArcelorMittal, Brookfield, Canadian Pension Fund, NIF and Petronas among others.

With a capacity of 1500 MW NTPC Green Energy commissioned and another 4,000 MW in the works, the company plans to raise Rs 2,000 crores as equity while it remains open to a stake sale from 5 percent to 26 percent.

NTPC has set an asset monetisation target of Rs 10,000 crores for the next 3 years even as the company is trying to sell non-core assets held in fertiliser companies and wants to get NTPC Vidyut Vyapar Nigam (NVVN) and NEEPCO listed on the stock exchange.

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Sources said that a change is being sought in the annual contracted quantity (ACQ) threshold for coal, pointing out that NTPC had to make do with coal with fly ash content up to 30 percent to keep power supply running even as Coal India's profits have jumped despite supplying coal with high ash content.

NTPC plans to commission the 1st unit of its power project in Bangladesh by October this year, and the 2nd unit by March 2023. Sources added that NTPC looking at proceeding with its 50 MW solar power project in Sri Lanka after situation normalises in the island nation, indicating that it's easier to supply power via a transmission line than directly invest in the volatile country as of now.

While NTPC has no plans to buy mines abroad due to high prices, it's mindful of the effect the acquisition of coal-based plants and mines will have on its ESG targets.

Sources indicated that NTPC doesn't intend to retire any thermal power plant with over 200 MW capacity in the next 10 years, and plans to commission 2900 MW more thermal power capacity this year.

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With 11.46 MT coal available as of today, up from 3 MT available at same time in 2021, NTPC isn't seeking more coal imports since the past 1 month. Despite a rise in power demand since the past few days, the PSU may not import over a couple of million tonnes more coal in this financial year.

However, sources feel that grade slippage is a symptom of coal's scarcity, and the availability of the resource has never been enough. They added that India's power demand hasn't been projected correctly; with no data available on change in load patterns and lack of demand side management and dynamism in tariffs.

Reportedly, NTPC and Deloitte are conducting a study on India's power demand projection, with Fluentgrid developing a model on it.

Despite a 60 percent rise in India's captive coal production and use of 7 percent imported coal for blending with total stock this year, 7 NTPC power plants have domestic coal supply of 4 days each left.

Sources added that the target of net zero emissions can be achieved by the use of nuclear and hydel energy, pointing to similar plans by the UK and Japan and the fact that carbon capture is still a long shot, UK and Japan also going for nuclear power.

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First Published:Sept 1, 2022 8:40 PM IST