NTPC Green Energy shares rise on winning 1000 MW power project – EQ
In Short : NTPC Green Energy’s shares saw a significant rise following the company’s win of a 1000 MW power project. This achievement marks a major milestone in NTPC’s renewable energy expansion strategy, boosting investor confidence and reinforcing the company’s commitment to sustainable energy growth. The project is expected to enhance NTPC’s renewable portfolio and contribute to India’s green energy goals.
In Detail : NTPC Green Energy share price rose more than a percent in the opening trade on January 6 after the company’s subsidiary secured 1000 MW power project from Uttar Pradesh Power Corporation Limited (UPPCL).
At 09:27am, NTPC Green Energy was quoting at Rs 129.95, up Rs 1.60, or 1.25 percent, on the BSE.
The company’s arm NTPC Renewable Energy (NTPC REL) secured a capacity of 1000 MW at an impressive tariff of Rs 2.56/kWh, however, the Letter of Award (LOA) from UPPCL is awaited.
The wholly owned subsidiary has emerged as a successful bidder in the e-reverse auction conducted by UPPCL for selection of solar power developers for setting up 2000 MW ISTS-connected solar PV power projects in India under Tariff-Based Competitive Bidding conducted on 3rd January 2025.
In December, the company signed a Memorandum of Understanding (MoU) with the Department of Industries, Government of Bihar to establish renewable energy projects, including Ground-mounted and floating solar installations, Battery energy storage systems, and Green hydrogen mobility initiatives etc.
On December 10, the said subsidiary has emerged as a successful bidder in the e-reverse auction conducted by the Solar Energy Corporation of India (SECI) for the development of 2000 MW ISTS connected Solar PV Power Projects.
NTPC Green Energy stock was listed at Rs 111.50 per share on the NSE, a premium of 3.24 percent over the IPO price of Rs 108 per share.
NTPC Green Energy is a ‘Maharatna’ central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.
