NTPC gets nod to set up renewable energy biz arm

New Delhi, August 21 Power giant NTPC on Friday said it has received the approval of Niti Aayog and Department of Investment and Public Asset Management (DIPAM) to set up a wholly-owned company for its renewable energy business. Now, NTPC...

Tribune Web Desk

Updated At : 01:08 PM Aug 22, 2020 IST

New Delhi, August 21

Power giant NTPC on Friday said it has received the approval of Niti Aayog and Department of Investment and Public Asset Management (DIPAM) to set up a wholly-owned company for its renewable energy business.

Now, NTPC will move to form a subsidiary firm for renewable energy business, as it has requisite approvals for the purpose.

“…concurrence had been obtained from NITI Aayog and DIPAM, Ministry of Finance for formation of a wholly-owned subsidiary for NTPC Renewable Energy Business,” the power giant said in a BSE filing.

The wholly-owned subsidiary will be incorporated under the provisions of the Companies Act, 2013, it added. — PTI

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