NTPC Limited (NSEI:NTPC) will reduce its stake in its newly formed renewable energy (RE) arm as it plans to list it in the coming financial year. NTPC Renewable Energy Limited (NREL) was incorporated in October 2020 and will spearhead the company’s plan to construct 60 Gw of renewable energy projects in this decade. Senior Executives said NTPC will commence “global roadshows” in the coming months to look for a strategic investor in NREL. “We would be open to all kinds of investors – energy utilities, financing companies, domestic and international energy players as long as they have financing backing matching our ambition of 60 Gw,” said a Senior Executive. The plan as of now is to list NREL during the next fiscal, “preferably before October 2022.” Among the key renewable energy projects that NTPC is working on currently is the mega solar power park in Khavda, Gujarat where it will set up 5 gw of solar power capacity. The company is also in the process of inviting expressions of interest for setting up 15 Gw of solar cell and module manufacturing. It will also soon come out with a tender for energy storage of 3 Gw, which will be “technology and location agnostic”, said an executive. The company recently announced setting up ‘India’s first Green Hydrogen based Energy Storage Project’ at its Simhadri power plant in Andhra Pradesh. Gurdeep Singh, Chairman and Managing Director, NTPC, at a public event in June this year said NREL would be listed soon. “We should not focus on one way of raising funds. We want to soon go public for raising funds,” he said, adding that the company would add 7-8GW renewable power every year. NTPC ltd is planning to take its three subsidiary companies public in order to meet the target of asset monetisation worth INR 150.00 billion, stipulated by the Centre. Apart from NREL, the other two companies are - NTPC Vidyut Vyapar Nigam Ltd. (NVVN) and North Eastern Electric Power Corporation Limited (NEEPCO). As part of the same plan, NTPC will also exit from its joint venture with steel major SAIL ltd – NTPC-SAILPower Company ltd as part of the monetisation plan. The current total installed capacity of NTPC stands at 66 Gw. Of this, thermal (coal + gas) is 61 Gw, hydro 3.7 Gw, solar is 1 Gw and balance is wind.