Solar Power Company Incorporates A New Subsidiary In 74:26 Ratio With Rajasthan Rajya Vidyut Utpadan Nigam Ltd
The company has a market cap of Rs 1 lakh crore with a PE of 300x, an ROE of 6 per cent and an ROCE of 8 per cent.
On Thursday, shares of NTPC Green Energy Ltd plunged 3.31 per cent to Rs 121.25 per share from its previous closing of Rs 125.40 per share with an intraday high of Rs 125.90 per share and an intraday low of Rs 120.50 per share.
NTPC RAJASTHAN GREEN ENERGY LIMITED, a subsidiary of NTPC Green Energy Limited, was incorporated in India on January 8, 2025. This entity is a 74:26 joint venture between NTPC Green Energy Limited (NGEL) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL), a Government of Rajasthan undertaking. NGEL, a subsidiary of the listed entity NTPC Limited, holds 74 per cent of the shares in this new venture.
This joint venture operates within the renewable energy sector. Its primary objectives include: (1) Developing, operating, and maintaining renewable energy parks, including solar, wind, and hybrid projects with or without storage, in Rajasthan, with a target capacity of up to 25 gigawatts. (2) Developing green hydrogen and its derivatives, such as green ammonia and green methanol, with a production capacity of up to 1 million tons. The Ministry of Power, Government of India, approved the formation of this joint venture through a letter dated September 26, 2024. NGEL subscribed to 74,000 equity shares at a face value of Rs 10 each, representing 74% shareholding and control.
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.
NTPC Green Energy Limited has been actively contributing to the nation's renewable energy goals. The successful commissioning of the first part capacity of the 105 MW Shajapur Solar Project in Madhya Pradesh on November 29, 2024, has propelled the NTPC group's total installed and commercial capacity to 76,530.68 MW. Furthermore, the strategic partnership between NTPC Green Energy Limited and Chhattisgarh State Power Generation Company Limited aims to develop up to 2,000 MW of renewable energy projects, including innovative floating solar solutions. This collaboration reinforces both organisations' commitment to sustainable energy practices and a greener future.
The company has a market cap of Rs 1 lakh crore with a PE of 300x, an ROE of 6 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.