76,530.68 MW Group Capacity: NTPC-Backed Power Company Wins 500 MW Solar Power Contract in SECI Auction
The company has a market cap of Rs 1.25 lakh crore with a PE of 360x, an ROE of 7 per cent and an ROCE of 8 per cent.
On Wednesday, shares of NTPC Green Energy Ltd gained 5.22 per cent to an intraday high of Rs 154.30 per share from its previous closing of Rs 146.65 per share.
NTPC Renewable Energy Limited (NTPC REL), a wholly owned subsidiary of NTPC Green Energy Limited, has emerged as a successful bidder in the e-reverse auction conducted by the Solar Energy Corporation of India (SECI) for the development of 2000 MW ISTS-connected Solar PV Power Projects. The auction, held on December 9, 2024, also includes the establishment of Energy Storage Systems (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.
Earlier, NTPC Green Energy Limited made significant strides in its renewable energy journey. The successful commissioning of the first part capacity of the 105 MW Shajapur Solar Project (Unit-I) in Madhya Pradesh on November 29, 2024, has boosted the NTPC group's total installed and commercial capacity to 76,530.68 MW. Moreover, NTPC Green Energy Limited and Chhattisgarh State Power Generation Company Limited have formed a strategic partnership to develop up to 2,000 MW of renewable energy projects, including innovative floating solar solutions. This collaboration underscores the commitment of both organizations to promote sustainable energy practices and contribute to a greener future.
DSIJ's 'Large Rhino' service recommends blue chip stocks of Large Cap companies that have leadership positions in their category. If this interests you, do download the service details here.
NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, is a leading renewable energy company in India. Incorporated in 2022, NGEL is dedicated to developing, constructing, and operating solar and wind energy projects across the country. With a strong focus on sustainable energy solutions, NGEL aims to contribute significantly to India's renewable energy goals. By leveraging its parent company's expertise and resources, NGEL is well-positioned to become a major player in the renewable energy sector.
The company has a market cap of Rs 1.25 lakh crore with a PE of 360x, an ROE of 7 per cent and an ROCE of 8 per cent. Investors should keep an eye on this power generation stock.
Disclaimer: The article is for informational purposes only and not investment advice.