NTPC Green Energy enters into joint venture agreement with Mahatma Phule Renewable Energy and Infrastructure

The company reported that under the joint venture, the companies will undertake the development of 10 gigawatts (GW) of renewable energy parks and projects in Maharashtra and other states in India.

Last week, the company announced that its board of directors has approved investment for the Sipat Super Thermal Power Project, Stage-III (1X800 MW). The current estimated cost for the project was appraised at ₹9,790.87 crore. Further, the board of directors also gave the approval for Stage-II of the project which had its cost appraised to ₹11,130.98 crore.

NTPC Green Energy was in the news recently as the company filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI), National Stock Exchange of India, and BSE. The wholly-owned subsidiary of NTPC filed the DHRP for its Initial Public Offer (IPO). The company is aiming to raise funds through the issue of equity shares amounting to ₹10,000 crore.

For the quarter ended June 30, 2024, the company reported an 11% year-on-year (YoY) rise in net profit to ₹4,511 crore. The company’s revenue from operations for the quarter climbed 14% YoY to ₹44,419 crore.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter were up 10% YoY to ₹13,081 crore. NTPC reported a 15% YoY rise in fuel & energy purchased during the quarter to ₹27,352 crore.

At the end of Q1FY25, NTPC’s total installed capacity stood at 76,048.

Shares of the company have risen by nearly 41% since the beginning of the year. The stock has gained over 83% in the past year.