The share of NTPC Green Energy Ltd rallied 4% on 23 December after the company, and the Department of Industries, Government of Bihar, signed a Memorandum of Understanding (MoU).

The MOU is for investments in Bihar to develop renewable energy projects, including green hydrogen mobility initiatives, ground-mounted and floating solar panels, and battery energy storage systems.

The Bihar government will assist in obtaining the necessary licenses, authorizations, registrations, and permits from the appropriate departments, agencies, and authorities to support the projects.

Earlier last week, the company began the commercial operation of 30 megawatts (MW) out of 150 MW of the Gujarat Solar PV Project in Mesanka, Gujarat, of NTPC Renewable Energy, the company’s subsidiary. 

On 10 December, the Solar Energy Corporation of India (SECI) held an e-reverse auction for the development of 2000 MW ISTS linked Solar PV Power Projects, and the subsidiary in issue was the successful bidder.

Additionally, up for auction is the installation of Energy Storage Systems (ESS) with a combined capacity of 1000 MW/4000 MWh.

NTPC REL secured 500 MW of solar power capacity at a rate of Rs. 3.52 per kWh.

The company is required to install an Energy Storage System (ESS) with a capacity of 250 MW/1000 MWh in addition to the contracted solar capacity.

At 12:11 pm, the shares of NTPC Green Energy were trading 1.35% higher at Rs 133.45 on NSE.

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