Shares of NTPC Green Energy Ltd surged 5% on 11 December after the company’s subsidiary NTPC Renewable Energy Ltd secured a 500 MW solar project. 

The stock increased after the company revealed that a subsidiary, NTPC Renewable Energy Ltd, had won a 500 megawatt (MW) solar power project in an e-reverse auction conducted by the Solar Energy Corporation of India (SECI) on 9 December 2024. 

As part of SECI’s 2000 MW ISTS-connected Solar PV Power Projects tender, an Energy Storage System (ESS) with a 1000 MW/4000 MWh total capacity will be constructed.
 
The company, in its statement, said, “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.”

Regarding stocks, NTPC Green Energy’s shares were listed on the BSE and NSE on 27 November 2024. Investors have since received a 42.8% return on their investment over the stock’s initial price of Rs 108. 

NTPC Green Energy is a fully owned subsidiary of ‘Maharatna’ NTPC, the top public sector non-hydro renewable energy firm in India. The company operated 3,320 MW as of 30 September 2024, with 3,220 MW of solar projects and 100 MW of wind plants split across six states. The business makes money by using Power Purchase Agreements to sell solar and wind energy to public utilities and Indian government organizations.

At 11:32 am, the shares of NTPC Green Energy were trading 1.36% higher at Rs 148.65 on NSE.

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