 "NTPC Green Energy up 6% as commercial operation begins at Solar PV Project")
Shares of NTPC Green Energy surged 5.79 per cent at Rs 133.35 a piece on the BSE in Friday’s intraday trade. NTPC Green Energy share price rose after the company on Friday declared its commercial operation of first part capacity of 37.5 MW out of 200 MW Gujarat Solar PV Project in Sadla, Gujarat.
“We wish to inform you that on the basis of certificate dated 26.12.2024 issued by Gujarat Energy Development Agency, first part capacity of 37.5 MW out of 200 MW Gujarat Solar PV Project in Sadla, Gujarat awarded under GUVNL/500 MW/Solar (Phase XI) tender, of NTPC Renewable Energy Limited (a wholly owned subsidiary of NTPC Green Energy Limited) is declared on Commercial Operation w.e.f. 21.12.2024,” the company said in an exchange filing.
Earlier on Thursday, the company’s shareholder lock-in period ended. A lock-in period is a set time period during which an investment cannot be withdrawn, sold, or redeemed.
This development has made 18.3 crore shares, representing 2 per cent of the company’s outstanding equity, eligible for trading.
It is important to note that the expiry of the lock-in period does not necessarily imply that all these shares will be sold in the open market; it only allows them to be traded.
The next three month lock-in period for NTPC Green Energy will expire on February 24, 2025. At that time, an additional 18.3 crore shares, accounting for another 2 per cent of the company’s outstanding equity, will also become eligible for trade.
The shares of NTPC Green Energy got listed on BSE, NSE on November 27, 2024. Since then, the stock has delivered 20 per cent return to investors over its issue price of Rs 108.
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NTPC Green Energy is a wholly owned subsidiary of the 'Maharatna' NTPC, India's leading non-hydro renewable energy public sector company. As of September 30, 2024, the company had an operational capacity of 3,320 MW, including 3,220 MW of solar projects and 100 MW of wind projects spread across six states. The company generates revenue by selling solar and wind power to Indian government agencies and public utilities under Power Purchase Agreements.
The company has a total market capitalisation of Rs 1.09 trillion. At 1:04 PM; the shares of the company were trading 2.78 per cent higher at Rs 129.55 a piece. By comparison, the BSE Sensex was up 0.35 per cent at 78,749.65 level.