Global utilities and energy companies, pension and infrastructure-focussed funds are among those that have been approached by NTPC Limited (NSEI:NTPC) as it starts fundraising for its clean energy platform. NTPC's plans-to first carve out its renewable energy assets into a special purpose vehicle and sell a stake subsequently to raise funds-will form part of the government's National Monetisation Pipeline (NMP). Feelers have been sent and preliminary discussions have been held with AAbu Dhabi National Energy Company PJSC (ADX:TAQA), Petroliam Nasional Berhad (Petronas), CPP Investments (CPP Investment Board) (CPPIB), Brookfield Asset Management Inc. (TSX:BAM.A), KKR & Co.

Inc. (NYSE:KKR) and Copenhagen Infrastructure Partners P/S among others to gauge their interest, said people aware of the development. ET was the first to report July 11, 2022 that NTPC is looking to raise `INR 50,000 million by selling a maximum 49% stake in its green energy subsidiary and had appointed SBI Capital Markets as advisor. Non-disclosure agreements are getting signed with prospective suitors after NTPC issued an advertisement seeking expressions of interest (EoIs).

The exact quantum of the stake sale and the amount to be raised is yet to be finalised. NTPC, TAQA, Copenhagen Infrastructure Partners and Petronas didn't respond to queries. Brookfield, KKR and CPPIB declined to comment.