NTPC Renewable Energy Limited (NTPC REL), a subsidiary of NTPC Green Energy, secured 500 MW of solar power capacity
Shares of NTPC Green Energy surged by up to 5.2% on Wednesday, reaching Rs 154.30 on the BSE, following the company’s successful bid for a 500 MW solar power project in an auction organized by the Solar Energy Corporation of India (SECI).
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NTPC Renewable Energy Limited (NTPC REL), a subsidiary of NTPC Green Energy, secured 500 MW of solar power capacity at a tariff of Rs 3.52 per kWh. The auction also includes the establishment of Energy Storage Systems (ESS) with a total capacity of 1000 MW/4000 MWh.
In the previous session, NTPC Green Energy shares gained 1.31%, closing at Rs 146.65 on the BSE. The company’s market capitalization rose to Rs 1.23 lakh crore, with a high turnover of Rs 56.68 crore on BSE. On November 4, the stock hit a record high of Rs 155.30, rising 9.28% intraday.
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“NTPC Renewable Energy Limited (NTPC REL), a wholly-owned subsidiary of NTPC Green Energy Limited, was the successful bidder in the e-reverse auction held by SECI on December 9, 2024, for the development of 2000 MW ISTS-connected Solar PV Power Projects. The auction includes setting up 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 part of the contract, the company will also establish an ESS of 250 MW/1000 MWh along with the solar capacity. The Letter of Award (LOA) from SECI is awaited,” stated NTPC Green Energy.
NTPC Green Energy’s stock debuted at Rs 111.60 on the BSE, representing a 3.33% premium over its issue price of Rs 108. On the NSE, the stock opened at Rs 111.50, a 3.24% premium on November 27.
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The IPO of Delhi-based NTPC Green Energy was open from November 19-22. The company raised Rs 10,000 crore through a fresh issue of up to 92,59,25,926 equity shares, with the shares priced between Rs 102-108 each and a lot size of 138 shares. The IPO was subscribed 2.42 times.
