NTPC Green Energy’s share price rose 5% to an intra-day high of Rs 103.22 on February 25. The surge in stock price came a day after it signed a Memorandum of Understanding with the Madhya Pradesh government. At 12 o’clock around, the stock was trading 0.24% up at Rs 98.64.
NTPC Green Energy signs pact with MP Power Generating Co
The company inked the pact with Madhya Pradesh Power Generating Company (MPPGCL) in the renewable energy sector. The partnership is focused on creating renewable energy initiatives, such as solar, wind, and hybrid systems (with or without storage), targeting a total capacity of 20 GW or more in Madhya Pradesh.
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“This MoU envisages to collaborate in the field of Renewable Energy through the setting up of Projects comprising Solar/Wind/Hybrid with or without storage up to 20 GW or more in Madhya Pradesh,” said the company in an exchange filing.
MPPGCL and NGEL will form a Joint Venture Company (JVC) to meet the Renewable Generation Obligation (RGO) of the Madhya Pradesh Generating Company and the Renewable Purchase Obligation (RPO) of Madhya Pradesh DISCOMs.
Recently, it signed an MoU with NTPC with Bharat Light and Power. The company will set up infrastructure if required for the functioning of the green hydrogen project including RE (Renewable Energy) projects and regular operation under B-O-O mode, as a part of its Net Zero commitments.
NTPC Green Energy in Q3
The company reported an increase of 18% year-on-year in net profits for the third quarter of FY25 at Rs 65.61 crore, compared to Rs 55.61 crore in the same quarter a year ago. The revenue from operations rose 13.2% to Rs 505.08 crore in the third quarter of the current financial year, as against Rs 446.14 crore in the correspondent quarter of the previous year.
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The share price of NTPC Green Energy has fallen over 6% in the previous five trading days. It has wiped out 9% of investors’ wealth in the past one month and 19% since it got listed on the NSE.
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