NTPC Green Energy's shares rose by more than 2 percent during early trading on December 11, following the announcement that the company had secured a significant order to set up an Energy Storage System (ESS).
By 09:22 AM, the stock was trading at Rs 149.95, up Rs 3.30 or 2.25 percent on the Bombay Stock Exchange (BSE).
The successful bid was placed by NTPC Renewable Energy Limited (NTPC REL), a wholly owned subsidiary of NTPC Green Energy.
The company participated in an e-reverse auction organized by the Solar Energy Corporation of India (SECI) for the development of 2000 MW of ISTS-connected Solar PV Power Projects.
As part of the auction, NTPC REL was awarded 500 MW of solar power capacity at a tariff of Rs 3.52 per kWh.
In addition to the solar power capacity, NTPC REL is also required to establish an Energy Storage System (ESS) with a total capacity of 250 MW/1000 MWh, as per the terms of the tender.
This is part of a larger initiative that involves the setup of 1000 MW/4000 MWh ESS along with the solar power projects.
NTPC Green Energy had initially listed its shares on the NSE at Rs 111.50 per share, marking a 3.24 percent premium over its IPO price of Rs 108 per share.
The company, a 'Maharatna' central public sector enterprise, has a significant renewable energy portfolio, which includes both solar and wind power assets.
