NTPC Forms Wholly-Owned Subsidiary in Mauritius

MT Newswires Live

06/29

State-owned power producer NTPC (NSE:NTPC, BOM:532555) has incorporated a wholly-owned subsidiary in Mauritius named NTPC (Mauritius) Energy, according to a Friday filing to the Indian stock exchanges.

The new entity aims to undertake the development of the proposed floating solar photovoltaic project with a battery energy storage system (BESS) and any power projects and other businesses related to the power sector in Mauritius.

The company's shares were up nearly 1% in Monday's trade.

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