Shares of this green energy stock actively expanding its role in India’s renewable energy sector formed a joint venture with Maharashtra State Power Generation Company (MAHAGENCO) to establish renewable energy parks in Maharashtra and signed an MoU on with Chhattisgarh State Power Generation Co. Ltd. (CSPGCL) to develop up to 2000 MW renewable energy projects, including floating solar.
Price Movement
In Wednesday’s trading session, NTPC Green Energy Ltd debuted on the BSE at Rs.111.5 per share, a 3 percent premium to its issue price, and climbed to Rs.122.65, marking an 11.5 percent gain from the IPO price.
What happened
NTPC Green Energy Limited (NGEL) and Maharashtra State Power Generation Company Limited (MAHAGENCO) formed a 50:50 joint venture, MAHAGENCO NTPC Green Energy Private Limited (MNGEPL), on November 25, 2024.
The joint venture will develop, operate, and maintain renewable energy parks in Maharashtra under UMREPP and allocate them for the development of renewable energy projects.NGEL has subscribed to 50,000 (fifty thousand) equity shares at a face value of Rs.10 each.
Additionally, a Memorandum of Understanding (MoU) was signed on November 26, 2024, in Raipur between NTPC Green Energy Limited (NGEL) and Chhattisgarh State Power Generation Co. Ltd. (CSPGCL) to develop up to 2000 MW renewable energy projects, including floating solar.
Also read….
Future Goals
NTPC Green Energy plans to reach a renewable energy capacity of 60 GW by FY 2032. Currently, it has around 3.5 GW installed, with over 28 GW in development across multiple projects. This ambitious goal supports India’s overarching strategy to expand its clean energy capacity.
Financial Performance
In its recent financial update for the quarter ending September 2024, NTPC Green Energy Ltd reported revenue from operations of Rs.1,082 crore, reflecting a 7.4 percent incline from Rs.1,008 crore in Q2 FY24. Net Profits improved significantly by 137 percent to Rs.175 crore from Rs.208 crore in the same period.
Company Overview
NTPC Green Energy Limited (NGEL) is a wholly owned subsidiary of NTPC Limited, focused on renewable energy projects in India. As of September 2024, it is recognized as the largest public sector enterprise in the country for renewable energy generation, excluding hydroelectric power.
Written by – Siddesh S Raskar
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
Start Your Stock Market Journey Today!
Want to learn Stock Market trading and Investing? Make sure to check out exclusive Stock Market courses by FinGrad, the learning initiative by Trade Brains. You can enroll in FREE courses and webinars available on FinGrad today and get ahead in your trading career. Join now!!
