NTPC Green Energy and RVUNL have joined forces to establish a new joint venture known as NTPC Rajasthan Green Energy.
NTPC Green Energy Ltd. and Rajasthan Rajya Vidyut Utpadan Nigam Ltd., a Rajasthan government undertaking, have come together to establish NTPC Rajasthan Green Energy Ltd.
In this joint venture, NTPC Green Energy will hold a majority stake of 74%, while Rajasthan Rajya Vidyut Utpadan Nigam will acquire a 26% stake, as per an exchange filing on Wednesday.
The main objective of this partnership is to develop, operate, and maintain renewable energy parks, including solar, wind, and hybrid energy projects, with or without storage, with a total capacity of up to 25 gigawatts. Additionally, the JV aims to develop a green hydrogen plant with a capacity of up to one million tonnes through a suitable model.
NTPC Green Energy will hold 74,000 equity shares of the JV at a face value of Rs 10 each, as stated in the filing.
Recently, on Jan. 4, the company secured a 1000-megawatt power project through the Uttar Pradesh Power Corp.’s solar PV power project auction. In December, NTPC Renewable Energy Ltd., a wholly owned subsidiary of NTPC Green Energy Ltd., won a bid in the e-reverse auction conducted by the Solar Energy Corp. for the development of 2,000-megawatt solar power projects, including energy storage systems with a total capacity of 1,000 MW and 4,000 MW hours.
Shares of NTPC Green Energy closed 1.23% higher at Rs 125.45 apiece on the National Stock Exchange, outperforming the benchmark Nifty. Since its listing in November 2024, the share price has risen by 3.12%.
Despite this positive performance, one analyst tracking the company recommends a sell rating on the stock, according to Bloomberg data. The average of 12-month analysts’ price targets suggests a potential downside of 44.2
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