NTPC Green’s arm bags 500 MW solar power project from SECI, shares rises above 1.3%

NTPC Green Energy saw its stock rise by 1.36% to Rs 148.65 after its wholly owned subsidiary, NTPC Renewable Energy (NTPC REL), secured a contract for 500 MW of solar power capacity at a tariff of Rs 3.52 per kWh from the Solar Energy Corporation of India (SECI).

The company is currently awaiting the letter of award (LOA) from SECI. NTPC Renewable Energy Limited (NTPC REL) successfully participated in an e-reverse auction conducted by SECI for the development of 2000 MW of ISTS-connected solar PV power projects.

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The auction, held on 9 December 2024, also includes the establishment of Energy Storage Systems (ESS) with a total capacity of 1000 MW/4000 MWh. 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.

Shares of NTPC Green Energy were listed on the bourses on 27 November 2024. The scrip was listed at Rs 111.60, exhibiting a premium of 3.33% to the issue price.

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