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NTPC Renewable Energy Starts Commercial Electricity Supply From Shajapur Solar Project

29 November 20243 mins read by Angel One
NTPC Renewable Energy Starts Commercial Electricity Supply From Shajapur Solar Project, as a result, today's stock is 2% up and near the 52-week high.
NTPC Renewable Energy Starts Commercial Electricity Supply From Shajapur Solar Project
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As of September 2024, NTPC Green’s operational capacity reached 3,220 MW in solar projects and 100 MW in wind projects spread across six states, all backed by an average Power Purchasing Agreement (PPA) of 25 years. 

NTPC Renewable Energy Starts Commercial Electricity Supply From Shajapur Solar Project

NTPC Green Energy announced on Thursday that its subsidiary, NTPC Renewable Energy, has begun commercial electricity supply from the initial 55 MW of the Shajapur solar project in Madhya Pradesh. NTPC Green Energy Ltd operates under the umbrella of the state-owned power behemoth NTPC Ltd.

 

According to a filing with the BSE, “Following a successful commissioning, the first portion of 55 MW out of the 105 MW Shajapur Solar Project (Unit-I) at Shajapur, MP, owned by NTPC Renewable Energy Ltd (a wholly-owned subsidiary of NTPC Green Energy Ltd), is now officially in commercial operation as of 00:00 hours on November 29, 2024.” Additionally, in a separate announcement, NTPC reported that the total installed and operational capacity of the NTPC group has now reached 76,530.68 MW.

NTPC Finance 

NTPC Green Energy Ltd. (NGEL) made notable achievements in the second quarter of FY25, advancing India’s renewable energy sector. The company launched commercial operations for segments of two solar initiatives: the Shajapur Solar Project (50 MW out of a total of 220 MW) and the Shambu Ki Burj-2 Solar PV Project (98.78 MW of 300 MW), contributing to the NTPC Group’s overall installed capacity of 76,443 MW as of September 30, 2024.

 

Additionally, NGEL entered into key agreements, including a 25 GW memorandum of understanding with the Rajasthan government and a 10 GW joint venture with MAHAPREIT, reinforcing its leadership in green energy. On the financial front, NGEL’s results are integrated into NTPC Ltd., which reported a 13.8% year-over-year increase in net profit for Q2 FY25, reaching Rs. 5,380 crore. However, revenue and EBITDA experienced declines due to lower power generation and increased costs, which affected profit margins.

NTPC Green Energy Ltd. (NGEL) stock price

NTPC Green Energy Ltd. (NGEL) stock price is right now trading at Rs. 129.92 per share, which is 2% up now. Stock is highly traded at Rs. 132.13 per share and ready to break a 52-week high, which is Rs. 132.30 per share.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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