NTPC Green Energy Surges After Winning Solar Power Project Bid from SECI
Successful Bid for Solar Power Project
Guess what? NTPC Green Energy shares went up by 5.2% on Wednesday! They reached Rs 154.30 on the BSE because the company won a bid for a 500 MW solar power project in an auction organized by the Solar Energy Corporation of India (SECI).
Details of the Auction
NTPC Renewable Energy Limited (NTPC REL), a part of NTPC Green Energy, got 500 MW of solar power capacity at a tariff of Rs 3.52 per kWh. The auction also includes setting up Energy Storage Systems (ESS) with a total capacity of 1000 MW/4000 MWh.
Previous Performance
In the last session, NTPC Green Energy shares went up by 1.31%, closing at Rs 146.65 on the BSE. The company’s market capitalization increased to Rs 1.23 lakh crore, with a high turnover of Rs 56.68 crore on BSE. On November 4, the stock reached a record high of Rs 155.30, rising 9.28% intraday.
More About the Bid
NTPC REL secured 500 MW of solar power capacity at a tariff of Rs 3.52 per kWh in an e-reverse auction held by SECI on December 9, 2024. The auction also includes setting up Energy Storage Systems (ESS) with a total capacity of 1000 MW/4000 MWh. The company will also establish an ESS of 250 MW/1000 MWh along with the solar capacity. The Letter of Award (LOA) from SECI is awaited, stated NTPC Green Energy.
Stock Debut and IPO Details
NTPC Green Energy’s stock started at Rs 111.60 on the BSE, which was a 3.33% premium over its issue price of Rs 108. On the NSE, the stock opened at Rs 111.50, a 3.24% premium on November 27.
The IPO of Delhi-based NTPC Green Energy was open from November 19-22. The company raised Rs 10,000 crore through a fresh issue of up to 92,59,25,926 equity shares, with the shares priced between Rs 102-108 each and a lot size of 138 shares. The IPO was subscribed 2.42 times.
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