500 MW renewable energy project bagged by this power generation company

Stock is providing excellent dividend yield of 4.07 per cent.

NTPC Renewable Energy (NTPCREL), the subsidiary of NTPC, has won a 500 MW renewable energy round-the-clock (RE-RTC) project. The work has been awarded by REMCL, which is a joint venture (JV) company of the Ministry of Railways and RITES.

The JV company would initially develop two fleet-mode nuclear projects that were identified as pressurized heavy water reactors (PHWR): the Chutka Madhya Pradesh Atomic Power Project (2x700 MW) and the Mahi Banswara Rajasthan Atomic Power Project (4x700 MW).

NTPC, India's largest power producer, aims to start generating 2,000 MW of nuclear energy by 2032, and 4,200 MW by 2035 and eventually scale up to 20,000 MW by 2050.

NTPC is India’s largest energy conglomerate with roots planted way back in 1975 to accelerate power development in India. Since then, it has established itself as the dominant power major with a presence in the entire value chain of the power generation business.

NTPC is mainly engaged in the generation and sale of electricity. The corporation has also diversified into the fields of consultancy, power trading, training of power professionals, rural electrification, ash utilization, and coal mining as well.

NTPC shares are currently trading at Rs 174.80, up by 3.25 points or 1.89 per cent from its previous closing of Rs 171.55 on the BSE.

The scrip opened at Rs 172.05 and touched a high and low of Rs 174.85 and Rs 172.05, respectively. So far 1,00,608 shares were traded on the counter.