NTPC, in partnership with Ceylon Electricity Board, is establishing a 50 MW solar power project in Sri Lanka, set at a tariff of 5.97 U.S. cents per unit, to boost renewable energy and lessen fossil fuel use.
State-owned NTPC announced its initiative to set up a 50 MW solar power project in Sri Lanka in collaboration with the Ceylon Electricity Board. This project, formed through a 50:50 joint venture called Trincomalee Power Company Limited (TPCL), is located at Sampoor in Trincomalee.
The finalised tariff for the project, which can be expanded to 120 MW, is set at 5.97 U.S. cents per unit following discussions with various stakeholders in Sri Lanka. This solar initiative aims to diversify Sri Lanka’s energy sources significantly, enhancing the country’s clean energy capacity and reducing dependence on fossil fuels.
NTPC is recognised as India’s largest power generation company and operates under the Ministry of Power.
NTPC Limited recently announced the declaration of the commercial operation date (COD) for the second part capacity of 25 MW from its 200 MW Gujarat Solar PV Project. This project, managed by NTPC Renewable Energy Limited (NTPC REL), marks a significant milestone in NTPC’s commitment to expanding its renewable energy portfolio.
The COD for this second phase was effective from January 17, 2025, following the earlier declaration of 37.5 MW for the first phase on December 21, 2024. With this new capacity addition, NTPC’s total installed and commercial capacity now stands at an impressive 76,733.18 MW. This advancement reflects NTPC’s strategic focus on renewable energy and its role in meeting India’s energy demands sustainably.
NTPC Limited, the state-owned power giant, reported a 14% increase in its consolidated net profit for the September quarter of FY 2024-25, reaching ₹5,380.25 crore, compared to ₹4,726.40 crore in the same period the previous year.
The company’s total income, however, saw a slight decline, dropping to ₹45,197.77 crore from ₹45,384.64 crore year-on-year. Despite the dip in income, NTPC’s average tariff per unit increased to ₹4.67, up from ₹4.61 in the previous year.
NTPC’s share price rose 0.59% to ₹326.20 at 9:40 AM on the NSE, after opening at ₹327, up from ₹324.30 at the previous close. However, the stock continued its decline for the second consecutive session, adding to yesterday’s 3.5% drop.
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Published on: Jan 22, 2025, 9:46 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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