NTPC Renewable Energy Limited has received a 500 MW solar power contract from Solar Energy Corporation of India. NTPC Renewable Energy is a wholly owned subsidiary of NTPC Green Energy. The company gave this information after the market closed. In Tuesday's trading, NTPC Green Energy's stock has seen a rise and the stock closed at 145.65. The impact of the news can be seen on the stock in the next session.

What information has the company given?

In the information sent to the stock market by NTPC Green Energy, it has been said that its subsidiary NTPC Renewable Energy Limited has emerged as the successful bidder in the e-reverse auction conducted by Solar Energy Corporation of India. This bid was invited for 2000 MW ISTS-connected solar PV power project. The auction was held on 9 December 2024. Energy storage system is to be installed in this project, whose total capacity will be 1000 MW / 4000MWh. NTPC Renewable Energy has secured a project of 500 MW solar power capacity, whose tariff is Rs 3.52 per kWh. As per the condition of the tender, the company has to install the Energy Storage System i.e. ESS. According to the company, the Letter of Award from SECI is yet to be received. How was the impact on the stock? The stock of NTPC Green Energy closed at 146.65 with a gain of more than one percent. The highest level of the stock this year is 155.3. Which was recorded on 4 December. The stock of NTPC Green Energy was listed in the market on 27 November. The issue price is 108. That is, in less than a month, the stock has registered a gain of about 44 percent.