 "NTPC Green Energy wins major battery energy storage project in Kerala")
NTPC Green Energy Limited (NGEL) on Thursday said it has won a major battery energy storage project in Kerala, following a successful bid in an e-reverse auction held by NHPC Limited on Wednesday, May 21.
NGEL secured a total battery storage capacity of 80MW/320MWh through a competitive bidding process.
The auction was part of NHPC’s tender "Selection of Battery Energy Storage System (BESS) Developers for setting up of 125MW / 500MWh InSTS-connected standalone BESS in the state of Kerala under Tariff-Based Competitive Bidding (TBCB) with Viability Gap Funding (VGF) support".
Under this initiative, NGEL has been selected for two key battery storage projects:
* 40MW/160MWh at Pothencode substation at a tariff of Rs 4,57,000/MW/month
* 40MW/160MWh at Sreekantapuram substation at a tariff of Rs 4,34,000/MW/month
A formal Letter of Award from NHPC is currently awaited. ALSO READ: NTPC Green share price zooms 12% on posting 188% rise in Q4 PAT YoY
NTPC Green Energy Q4 results
On Wednesday, NTPC Green Energy posted its Q4 results after market hours. In the quarter under review, the company's net profit stood at ₹233.22 crore, up 188 per cent as compared to ₹80.95 crore a year ago.
Its revenue for the quarter stood at ₹622.27 crore as against ₹508.14 crore a year ago, up 22 per cent. The company's expenses stood at ₹444.63 crore as against ₹425.84 crore in the same period a year ago.
During FY25, the company completed its initial public offering (IPO) comprising a fresh issuance of 92,63,29,669 equity shares with a face value of ₹10 each. These shares were offered at an issue price of ₹108 per share, which included 87,20,910 equity shares issued to eligible employees at a discounted rate of ₹103 per share.
The company was listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on November 27, 2024, raising ₹10,000 crore through its initial public offering (IPO).