Shares of NTPC Green Energy Ltd soared 3% on 6 January after the company’s subsidiary announced securing a 1,000 megawatts (MW) power project from Uttar Pradesh Power Corporation Limited (UPPCL).
The company’s subsidiary, NTPC Renewable Energy (NTPC REL), secured a 1,000 MW capacity for an alluring price of Rs 2.56/kWh, despite the fact that the Letter of Award (LOA) from UPPCL is still pending.
In order to select solar power developers for the construction of 2,000 MW ISTS-connected solar PV power projects in India using Tariff-Based Competitive Bidding, UPPCL organized an e-reverse auction on 3 January 2025, which the completely owned subsidiary won.
The firm and the Department of Industries, Government of Bihar, inked a Memorandum of Understanding (MoU) in December to work on renewable energy projects, such as battery energy storage systems, green hydrogen mobility projects, and ground-mounted and floating solar arrays.
On 10 December, the Solar Energy Corporation of India (SECI) held an e-reverse auction for the building of 2,000 MW ISTS-linked Solar PV Power Projects, and the aforementioned subsidiary emerged victorious.
NTPC Green Energy is a key public sector organization that is a “Maharatna” and offers a variety of renewable energy sources, including solar and wind.
However, at 12:22 pm, the shares of NTPC Green Energy shed all their early gains and were trading 1.30% lower at Rs 126.43 on NSE.
Unlock profitable opportunities every day! Unicorn Signals provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Unicorn Signals and start winning now!
