NTPC Green Energy shares rise on securing major solar power project

Shares of NTPC Green Energy gained 0.85 per cent to ₹147.90 on the BSE, at 12.43 pm on Wednesday, after the company announced that a subsidiary- NTPC Renewable Energy – won a bid in an auction conducted by the Solar Energy Corporation of India (SECI).

According to its exchange filing, the project involves setting up 2000 MW of solar power plants connected to the Indian transmission system.

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Furthermore, the project will include 1000 MW/500 MW of solar power capacity at a competitive tariff of ₹3.52 lakh per kwh and for every 500 MW of solar power capacity, the company is obligated to set up a 250 MW/ 1000 MWh energy storage system.

The stock of NTPC Green Energy hit a 52 – week high of ₹155.30 on December 4 and a 52- week low of ₹111.60 on November 27.