NTPC Green rises after arm bags 500 MW solar power project from SECI

NTPC Green Energy advanced 1.36% to Rs 148.65 after the company's wholly owned subsidiary, NTPC Renewable Energy (NTPC REL) has secured 500 MW of solar power capacity at a tariff of Rs 3.52 per KWh from the Solar Energy Corporation of India (SECI).

The company said that the letter of award (LOA) from SECI is awaited.

NTPC Renewable Energy Limited (NTPC REL), a wholly owned subsidiary of NTPC Green Energy Limited, 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 ISTSconnected Solar PV Power Projects.

 

The auction, held on 9 December 2024, also includes the establishment of Energy Storage Systems (ESS) with a total capacity of 1000 MW/4000 MWh.

As per the terms of the tender, the company is required to set up an energy storage system (ESS) of 250 MW/1000 MWh along with the contracted solar capacity.

Shares of NTPC Green Energy were listed on the bourses on 27 November 2024. The scrip was listed at Rs 111.60, exhibiting a premium of 3.33% to the issue price.

NTPC Green Energy (NGEL), promoted by Maharatna central public sector enterprise NTPC, is the largest renewable energy (excluding hydro) public sector enterprise in terms of operating capacity as of September 30, 2024. Operational capacity of the company as of 30 September 2024 was 3320 MW across 6 states.

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