Shares of NTPC Green Energy Ltd are in focus today after the firm's subsidiary 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 ISTSconnected Solar PV Power Projects.
NTPC Renewable Energy Limited (REL) secured 500 MW of solar power capacity at a tariff of Rs. 3.52 per kWh. The auction includes the establishment of Energy Storage Systems (ESS) with a total capacity of 1000 MW/4000 MWh.
Shares of NTPC Green Energy climbed 1.31% to Rs 146.65 on BSE in the previous session. Market cap of the firm rose to Rs 1.23 lakh crore. The stock saw a high turnover of Rs 56.68 crore on BSE. On November 4, NTPC Green Energy shares hit their record high of Rs 155.30, rising 9.28% intra day on BSE.
"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 ISTSconnected 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," said NTPC Green Energy.
The stock of the state-run renewable energy company was listed at Rs 111.60 on BSE, a premium of 3.33 per cent over its issue price of Rs 108. Similarly, the stock started its maiden trading session with a premium of 3.24 per cent over the given issue price at Rs 111.50 on NSE on November 27.
The IPO of Delhi-based NTPC Green Energy was open from November 19-22. The company raised a total of Rs 10,000 crore, which was entirely a fresh share sale of up to 92,59,25,926 equity shares. The company offered its shares in the price band of Rs 102-108 per share with a lot size of 138 shares. The issue was subscribed merely 2.42 times.