NTPC Green Energy climbs 5% amid heavy volumes, mega project win; details

The shares of recently listed NTPC Green Energy were in high demand on Wednesday, as around 12.8 million shares of the company changed hands on the NSE. 

 

NTPC Green Energy share price surged up to 5.28 per cent at Rs 154.40 on the NSE in the early morning trade of Wednesday. The stock’s up move came after the company said that NTPC Renewable Energy Ltd, a subsidiary has won a 500 MW solar power project in an e-reverse auction conducted by the Solar Energy Corporation of India (SECI) on December 9, 2024. 

 

The project is part of SECI’s 2000 MW ISTS-connected Solar PV Power Projects tender and includes the development of an Energy Storage System (ESS) with a total capacity of 1000 MW/4000 MWh.

 

 

“NTPC REL secured 500 MW of solar power capacity at a tariff of Rs. 3.52 per kWh. 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. The Letter of Award (LOA) from SECI is awaited,” the company said in a statement on Tuesday.

 

On the equities front, the shares of NTPC Green Energy got listed on BSE, NSE on November 27, 2024. Since then, the stock has delivered 42.8 per cent return to investors over its issue price of Rs 108. 

 

NTPC Green Energy is a wholly owned subsidiary of the 'Maharatna' NTPC, a 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 1.26 trillion. At 9:46 AM; the shares of the company were trading 2 per cent higher at Rs 149.58 a piece. By comparison, the NSE’s Nifty50 was up 0.03 per cent at 24,616.80 level.