Energy TAQA approached as part of Indian energy firm’s fund raising By Pramod Kumar August 17, 2022 Creative Commons The company plans to first carve out its renewable energy assets into a special purpose vehicle and sell a stake subsequently to raise funds UAE’s Abu Dhabi National Energy Company (TAQA) is among a list of global utilities and energy companies approached by India’s NTPC Ltd, as the power utility firm starts fundraising for its clean energy platform, financial daily Economic Times reported. The company plans to first carve out its renewable energy assets into a special purpose vehicle and sell a stake to raise funds as part of the government’s National Monetisation Pipeline. Preliminary discussions have been held with Abu Dhabi-listed TAQA, Malaysia’s state-owned Petronas, Canadian pension fund CPP Investment Board, Brookfield, KKR & Co. and Copenhagen Infrastructure Partners, among others, to measure their interest, the report said, citing informed sources. NTPC is seeking to raise 50 billion Indian rupees ($630 million) by selling a maximum 49 percent stake in its green energy subsidiary and has appointed SBI Capital Markets as an advisor, the newspaper reported. NTPC has a 2.3 GW renewable energy capacity under operation and 3.4 GW being built. It has a target of 15 GW renewable energy capacity by 2026.