NTPC Green gains after inking MoU with Bharat Light and Power

NTPC Green Energy rose 1.10% to Rs 107 after the firm signed memorandum of understanding (MoU) with Bharat Light and Power to support the acceleration of green energy objectives and the Government of India's efforts toward a carbon-neutral economy.

The MoU is aimed at jointly exploring the off-take of green hydrogen and its derivatives from NGEL and its affiliates to third parties. It will also encompass opportunities for selling captured carbon or biogenic carbon from NTPC Green Energy (NGEL).

NGEL, or through its affiliates, will establish the necessary infrastructure for the operation of the green hydrogen project, including renewable energy (RE) projects, and ensure regular operation under the Build-Own-Operate (B-O-O) model as part of its Net Zero commitments.

 

NTPC Green Energy (NGEL), promoted by Maharatna central public sector enterprise NTPC, is the largest renewable energy (excluding hydro) public sector enterprise in terms of operating capacity.

NTPC Green Energy listed on the bourses on 27 November 2024. The scrip was listed at Rs 111.60, exhibiting a premium of 3.33% to the issue price.

The company reported an 18% jump in consolidated net profit to Rs 65.61 crore in Q3 FY25 as against Rs 55.61 crore posted in Q3 FY24. Revenue from operations grew by 13.2% YoY to Rs 505.08 crore in the quarter ended 31 December 2024.

Powered by Capital Market - Live News