State-run renewable energy subsidiary NTPC Green Energy Ltd (NGEL) announced plans to raise ₹1,500 crore through the issuance of unsecured non-convertible debentures (NCDs) on a private placement basis on November 11, 2025.
According to the company’s regulatory filing, the proceeds from the issuance will be used for financing capital expenditure, refinancing earlier capital spends, and recouping investments already made. Funds will also be extended to subsidiaries and joint ventures through inter-corporate loans to support project expansion and other general corporate purposes.
Debenture Details and Maturity Structure
As per the filing, the NCDs will carry a coupon rate of 7.01% per annum with a tenor of 10 years and one day, maturing on November 12, 2035. The issuance has been approved under the company’s board resolution dated April 29, 2025, aligning with its long-term strategy to secure stable, low-cost financing for renewable energy development.
The move reinforces NGEL’s focus on maintaining a strong debt structure while advancing its ambitious renewable capacity expansion plans under NTPC Group’s clean energy transition strategy.
Accelerating Toward 60 GW Green Energy Target
A wholly owned subsidiary of NTPC Ltd, NGEL currently has an operational renewable energy portfolio exceeding 8.9 GW, with another 13 GW under implementation. The company aims to achieve 60 GW of installed renewable capacity by 2032, positioning itself as a key contributor to India’s net-zero and clean energy goals.
The latest NCD issuance underlines NTPC Green Energy’s disciplined approach to financing large-scale solar, wind, and hybrid projects across India, while ensuring steady returns for investors.
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