Bihar government to support NTPC Green Energy’s ambitious renewable initiatives, boosting investor confidence

Shares of NTPC Green Energy saw a rise in early trading on December 23, after the company announced a Memorandum of Understanding (MoU) with the Government of Bihar. At 9:36 am, the stock was up by 0.42%, trading at Rs 132.60 on the BSE.

The MoU outlines NTPC Green Energy’s plans to invest in renewable energy projects across Bihar, including ground-mounted and floating solar power installations, battery energy storage systems, and green hydrogen mobility initiatives. The Bihar government has pledged to assist in facilitating the necessary permissions, registrations, and clearances, ensuring smooth execution of these projects.

This announcement comes shortly after the company’s successful start of its 30 MW out of the 150 MW Gujarat Solar PV Project in Mesanka, Gujarat. Additionally, NTPC Green Energy’s wholly owned subsidiary, NTPC Renewable Energy (NTPC REL), emerged as the successful bidder for 2,000 MW of solar power capacity in an e-reverse auction conducted by the Solar Energy Corporation of India (SECI). As part of the project, the company will also develop 1,000 MW of energy storage systems.

NTPC Green Energy’s stock was initially listed at Rs 111.50 per share on the NSE, offering a 3.24% premium over its IPO price of Rs 108 per share. As a ‘Maharatna’ central public sector enterprise, the company’s growing renewable energy portfolio, which includes both solar and wind power, has gained significant attention from investors.