Green energy stocks are in the spotlight following the successful acquisition of an order for a 300-MW solar project
Green energy stocks: Shares of a renewable energy company focusing on projects through organic and inorganic means are drawing attention during Friday’s trading session. This comes after the company announced its success in securing a 300 MW Solar Project in a recent tender.
NTPC Green Energy Limited, with a market capitalization of Rs. 94,880.5 crores, saw its shares rise by nearly 2.3 percent to reach an intraday high of Rs. 115.7 on the BSE, up from its previous closing price of Rs. 113.1.
The latest regulatory filings reveal that NTPC Renewable Energy Limited (NTPC REL), a wholly-owned subsidiary of NTPC Green Energy Limited (NGEL), has been granted the 300 MW Solar Project in NHPC’s tender. NTPC REL emerged victorious in the e-reverse auction held by NHPC Limited.
The tender aimed to select solar power developers for the establishment of 1.2 GW ISTS (Inter State Transmission System) connected solar power projects, including 600 MW/1200 MWh Energy Storage Systems (ESS) on a national scale through Tariff-based competitive bidding with Green Shoe Option.
NTPC REL secured a 300 MW capacity at a tariff rate of Rs. 3.09/kWh. The project will also involve the installation of an Energy Storage System (ESS) with a capacity of 150 MW/300 MWh, enhancing the reliability and efficiency of solar power generation as per the Request for Selection (RFS) conditions.
The auction concluded on January 23, 2025, and NTPC REL is now awaiting the issuance of the Letter of Award (LOA) from NHPC Limited.
Financials:
NTPC Green reported a slight increase in revenue from operations, with a growth of approximately 7.3% year-over-year, rising from Rs. 1,008 crores in H1 FY24 to Rs. 1,082 crores in H1 FY25. However, the company’s net profit decreased during the same period, dropping from Rs. 208 crores to Rs. 175 crores, representing a decline of around 15.8% year-over-year.
About the Company:
NTPC Green Energy Limited (NGEL) serves as the overarching entity for NTPC’s green business initiatives, executing projects through both organic and inorganic means. The company aspires to lead NTPC’s green energy journey and achieve the ambitious target of 60 GW by FY32.
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