SJVN Green Energy Ltd (SGEL) is gearing up for an Initial Public Offering (IPO) in 2024 to raise capital for its aggressive growth plans. SGEL aims to achieve an installed capacity of 25,000 MW by 2030 and 50,000 MW by 2040. It has entered into a significant agreement with Greenko Group’s AM Green Ammonia Holdings to supply 4,500 MW of carbon-free energy for green ammonia production. Additionally, SGEL has secured solar projects, including 1,352 MW in Maharashtra and a joint venture with Assam Power Distribution Company Limited (APDCL) for 1,000 MW of floating solar projects in Assam.
SJVN, SGEL’s parent company, plans to invest ₹12,000 crore in FY25, primarily in renewable energy through SGEL. This IPO would follow NTPC Green Energy Ltd (NGEL), another state-run subsidiary focusing on renewable energy. NGEL is a crucial part of NTPC’s ambition to reach 60 GW of renewable capacity by 2032, with an existing operational capacity of over 3.4 GW and 26 GW in the pipeline.
This trend reflects the Indian government’s push to meet its renewable energy target of 500 GW by 2030, supported by policies like the reduced corporate tax rate for new manufacturing firms.
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