A prominent renewable energy company has signed a Memorandum of Understanding (MoU) with the Bihar government to create renewable energy projects throughout the state, marking a significant step towards sustainable development. This strategic partnership, an important stage in the state’s green energy transition, seeks to fully utilize Bihar’s renewable energy potential.
Share Price Movement
After closing at Rs. 131.67 per share on Monday, the share price of NTPC Green Energy Limited increased by 4.1 per cent to Rs. 137.09 per share. As of December 23, 2024, the company’s current market capitalization is around Rs. 1,12,634 crore.
At the Bihar Business Connect 2024 Summit, NTPC Green Energy Limited (NGEL) and the Department of Industries in Bihar inked a Memorandum of Understanding. Green hydrogen, battery storage, and solar installations are among the renewable energy initiatives that are the focus of the deal. Bihar will support sustainable investments in the state by helping with clearances and approvals. Delegates and important officials were present.
NTPC Green Energy’s consolidated revenue from operations climbed by 7.3 percent year over year from Rs. 1,008 crore in H2 FY24 to Rs. 1,082 crore in H2 FY25 during the half-year ending September 2024.
The company’s consolidated net profit dropped from Rs. 208 crore in H2 FY24 to Rs. 175 crore in H2 FY25, a 15.8% fall.
India’s renewable energy industry is expected to grow rapidly because of aggressive goals and more funding. With the addition of 13.5 GW of additional renewable capacity in 2023, the government hopes to generate 500 GW of electricity from non-fossil sources by 2030.
Due to economic growth and the growing use of electric vehicles and heat pumps, it is anticipated that the electricity demand will increase by 8% in 2024. By March 2025, capacity would have increased to 170 GW thanks to investments of Rs. 8,500 crore for solar infrastructure and Rs. 17,490 crore for the Green Hydrogen Mission.
According to the November 2024 shareholding pattern, the promoters own 89.01 per cent of NTPC Green Energy Limited, followed by foreign institutional investors with 2.24 per cent and the general public with 3.54 per cent.
India’s goals are being propelled by NTPC Green Energy Limited (NGEL), a fully-owned subsidiary of NTPC Limited. NGEL, which was founded in April 2022 and specializes in solar and wind energy, will have 3,320 MW of operating capacity by September 2024. The company is a key player in lowering carbon emissions and increasing India’s clean energy footprint with its projects in six states.
By 2032, NTPC Green Energy wants to increase its capacity to 60 GW. Long-term power purchase agreements with government organizations are how it makes money. With the help of NTPC Limited’s experience, NGEL is well-positioned to build massive renewable projects, investigate green hydrogen, and play a significant role in India’s transition to sustainable energy.
