Shares of a renewable energy company that concentrates on undertaking projects through organic and inorganic routes are in focus during the trading session on Friday, after the company announced winning a 300 MW Solar Project in a tender.
With a market capitalisation of Rs. 94,880.5 crores, the shares of NTPC Green Energy Limited surged by nearly 2.3 percent to hit an intraday high at Rs. 115.7 on BSE, as against its previous closing price of Rs. 113.1.
What’s the News
As per the latest regulatory filings with the stock exchanges, NTPC Renewable Energy Limited (NTPC REL), a wholly owned subsidiary of NTPC Green Energy Limited (NGEL), has been awarded a 300 MW Solar Project in NHPC’s tender.
NTPC REL emerged as a successful bidder in the e-reverse auction conducted by NHPC Limited.
The tender was for the selection of solar power developers for setting up of 1.2 GW ISTS (Inter State Transmission System) connected solar power projects with 600mw/1200 MWh Energy Storage Systems (ESS) on a nationwide basis under Tariff-based competitive bidding with Green Shoe Option.
NTPC REL secured a 300MW capacity at a tariff of Rs. 3.09/kWh. In accordance with the Request for Selection (RFS) conditions, the project will also include the installation of an Energy Storage System (ESS) with a capacity of 150 MW/300 MWh, ensuring improved reliability and efficiency of the solar power generation.
The auction concluded on January 23, 2025, and NTPC REL is now awaiting the issuance of the Letter of Award (LOA) from NHPC Limited.
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Financials
NTPC Green reported a marginal growth in the revenue from operations, experiencing a rise of nearly 7.3 percent YoY, increasing from Rs. 1,008 crores in H1 FY24 to Rs. 1,082 crores in H1 FY25.
In contrast, during the same period, the company’s net profit decreased from Rs. 208 crores to Rs. 175 crores, representing a fall of around 15.8 percent YoY.
About the Company
NTPC Green Energy Limited (NGEL) is an umbrella company for the green business initiatives of NTPC and undertakes projects through organic and inorganic routes. The company aims to be the flag-bearer of NTPC’s green energy journey to achieve the ambitious target of 60 GW by FY32.
Written by Shivani Singh
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