NTPC Green Energy shares rally over 5% after winning 500-MW solar project in SECI auction

NTPC Green Energy shares climbed as much as 5.2% on Wednesday to Rs 154.30 on BSE after the company secured a 500 MW solar power project in an auction conducted by the Solar Energy Corporation of India (SECI).

The auction, held on December 9, 2024, also included provisions for establishing Energy Storage Systems (ESS) with a total capacity of 1,000 MW/4,000 MWh, according to a company statement.

"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 of 250 MW/1,000 MWh along with the contracted solar capacity," it said.


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As of November 30, 2024, NTPC Group's renewable energy portfolio stood at 4.1 GW of operational capacity, with nearly 21 GW in various stages of construction and tendering.

The power giant has set a target to achieve 60 GW of renewable energy capacity by 2032.

NTPC Green, a subsidiary of NTPC, is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of September 24 and power generation in FY24.

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Its renewable energy portfolio encompasses both solar and wind power assets, with a presence across multiple locations in more than six states, helping mitigate the risk of location-specific generation variability. The operational capacity was 3,220 MW of solar projects and 100 MW of wind projects as of September 2024.

NTPC Green Energy’s revenue from operations has grown at a CAGR of 46.82%, from Rs 910.42 crore in fiscal 2022 to Rs 1,962.6 crore in fiscal 2024. Profit after tax grew at a CAGR of 90.75%, from Rs 94.74 crore in FY22 to Rs 344.72 crore in FY24.

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