NTPC secures 80 MW floating solar project in Madhya Pradesh

NTPC’s step-down subsidiary — NTPC Renewable Energy (NTPC REL) has been the successful bidder for 80 MW Floating Solar capacity at Omkareshwar Reservoir, Khandwa, Madhya Pradesh. The bidding was conducted on August 8, 2023, by Rewa Ultra Mega Solar (RUMSL), the JV Company of Solar Energy Corporation of India (SECI) and MP Urja Vikas Nigam. The discovered tariff is Rs 3.80/kWh and the energy generated from the project shall be used by MP state DISCOMs.

With the completion of this project, the floating solar capacity of NTPC shall be 342 MW. The biggest Floating Solar project in the country is of 100 MW capacity located at NTPC Ramagundam in Telangana. As of date, NTPC Group has 3.3 GW RE operational capacity, 20 GW RE capacity in the pipeline, including 4 GW Energy Storage System and the country’s first Green Hydrogen based PNG blending project.

Incorporated in 1975, NTPC (National Thermal Power Corporation) Ltd, along with its subsidiaries, associates, and joint ventures, is primarily involved in the generation and sale of bulk power to state power utilities. The group’s other businesses include consultancy, project management and supervision, energy trading, oil and gas exploration, and coal mining. The government of India owns the majority of the company. It is India’s largest power generation company.

On Wednesday, the shares of NTPC closed at Rs 218.55, up by 0.64% from its previous closing of Rs 217.15 on the BSE.

Today, the stock opened at Rs 218.95 and has touched a high and low of Rs 219.70 and Rs 216.60 respectively.

The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high and low of Rs 226.60 and Rs 152.80, respectively.

Last one week high and low of the scrip stood at Rs 223.50 and Rs 214.05 respectively. The current market cap of the company is Rs 2,11,920.64 crore.

The promoters holding in the company stood at 51.10%, while Institutions and Non-Institutions held 46.10% and 2.80% respectively.

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.