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NTPCGREEN - NTPC Green

📊 NSE: NTPCGREEN 🏢 Power Generation And Supply 📅 Last Updated: 12/14/2025 10:38

📢 Recent Corporate Announcements

NTPC Green Energy Commissions 90 MW Solar Capacity at Khavda-II Project

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 24 Apr 2026, 04:39 PM

NTPC Green Energy Limited's subsidiary has successfully declared the commercial operation of a 90 MW solar PV capacity at the Khavda-II project in Gujarat. This addition represents the seventh part of a larger 1,200 MW solar project. Following this commissioning, the group's total installed capacity has increased to 10,453.90 MW. This expansion is a key step in the company's strategy to scale its renewable energy portfolio and enhance revenue generation from green assets.

90 MW solar PV capacity commissioned at the Khavda-II project in Gujarat
Total group installed capacity increases to 10,453.90 MW from 10,363.90 MW
Project is part of a larger 1,200 MW solar development by subsidiary NTPC Renewable Energy Limited
Commercial operation effective from April 25, 2026

💡 Investors should remain positive as the company demonstrates steady execution of its renewable energy pipeline. The incremental capacity addition will contribute to the top-line growth in the coming quarters.

NTPC Green Energy Commissions 150 MW Solar Project in Rajasthan; Total Capacity Hits 10,276 MW

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 16 Apr 2026, 10:44 PM

NTPC Green Energy Limited has successfully declared the commercial operation of a 150 MW solar project in Rajasthan, effective April 18, 2026. This capacity is part of a larger 300 MW solar project managed by Project Sixteen Renewable Power Private Limited, a step-down subsidiary of the ONGC NTPC Green joint venture. With this addition, the total installed capacity of the NTPC Green Energy Limited Group has increased to 10,276.40 MW. This milestone demonstrates the company's steady execution of its renewable energy pipeline and its ability to scale through strategic joint ventures.

Commissioned 150 MW solar capacity in Rajasthan effective April 18, 2026
Project is part of a 300 MW solar facility under the ONGC NTPC Green Private Limited JV
Total group installed capacity increased from 10,126.40 MW to 10,276.40 MW
Strengthens the company's position in the Indian renewable energy sector through its step-down subsidiary

💡 Investors should maintain a positive outlook as the company continues to convert its under-construction pipeline into operational, revenue-generating assets. Monitor the commissioning of the remaining 150 MW of this specific project for further growth triggers.

NTPC Green Energy Submits SEBI Regulation 74(5) Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Apr 2026, 02:37 PM

NTPC Green Energy Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent, Beetal Financial & Computer Services, confirmed that no requests for dematerialization or rematerialization of shares were received during the quarter. This filing covers the period from January 1, 2026, to March 31, 2026. Such filings are standard administrative procedures for listed entities to ensure the integrity of shareholding records.

Compliance certificate issued for the quarter ended March 31, 2026
Registrar confirmed zero requests for dematerialization during the period
Registrar confirmed zero requests for rematerialization during the period
Filing made in accordance with SEBI (Depositories and Participants) Regulations, 2018

💡 No action is required as this is a routine regulatory compliance filing. Investors should continue to monitor the company's operational progress in the renewable energy sector.

NTPC Limited Declares Zero Encumbrance on NTPC Green Energy Shares for FY 2025-26

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 08 Apr 2026, 07:28 PM

NTPC Limited, the promoter of NTPC Green Energy Limited, has submitted a formal declaration under Regulation 31(4) of the SEBI (SAST) Regulations. The filing confirms that the promoter, along with persons acting in concert, has not created any direct or indirect encumbrance on their shareholding during the financial year 2025-26. This annual disclosure is a routine compliance requirement that provides transparency regarding the status of promoter holdings. The absence of pledged shares is a positive indicator of the promoter's financial health and commitment to the subsidiary.

Declaration filed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Confirms zero encumbrance or pledge on NTPC Green Energy shares by the promoter for FY 2025-26.
The disclosure covers the period ending March 31, 2026, as per the filing dated April 1, 2026.
Maintains transparency regarding the promoter's 100% unencumbered stake in the green energy arm.

💡 Investors should take note of the zero-pledge status as a sign of promoter stability. No specific action is required as this is a routine annual regulatory filing.

NTPC Green Group Capacity Crosses 10,125 MW with New Solar and Wind Units in Gujarat

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 31 Mar 2026, 05:21 PM

NTPC Green Energy Limited (NGEL) has announced the commercial operation of two new renewable energy units in Gujarat, effective April 2, 2026. The additions include a 37.5 MW solar unit and a 13.2 MW wind unit through its joint venture subsidiary, Ayana Renewable Power Four Private Limited. This expansion increases the total installed capacity of the NGEL Group from 10,075.70 MW to 10,126.40 MW. The projects represent steady execution of the company's renewable energy pipeline and joint venture partnerships with ONGC.

Declared commercial operation of 37.5 MW solar capacity in Gujarat, part of a larger 150 MW project
Operationalized 13.2 MW wind capacity as part of a 100 MW Hybrid project in Gujarat
Total group installed capacity successfully crossed the 10,125 MW milestone to reach 10,126.40 MW
Projects executed via step-down subsidiary of the ONGC NTPC Green Private Limited joint venture

💡 Investors should take note of the consistent capacity additions which directly contribute to revenue growth. The crossing of the 10GW mark is a significant operational milestone that reinforces the company's leading position in the green energy sector.

NTPC Green Subsidiary Signs Agreement for 70,000 MTPA Green Ammonia Supply

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 31 Mar 2026, 07:58 AM

NTPC Green Energy Limited's subsidiary, NTPC REL, has signed a Green Ammonia Purchase Agreement (GAPA) with Solar Energy Corporation of India (SECI). The agreement involves the supply of 70,000 MTPA of Green Ammonia to Krishna Phoschem Limited in Madhya Pradesh. This contract is executed under the SIGHT Scheme of the National Green Hydrogen Mission, marking a significant entry into the green hydrogen derivative market. The deal establishes a long-term revenue stream and reinforces the company's leadership in India's decarbonization efforts.

Agreement to supply 70,000 MTPA of Green Ammonia to Krishna Phoschem Limited
Signed under the SIGHT Scheme of the National Green Hydrogen Mission
SECI to act as the intermediary procurer for the supply contract
Significant milestone in NGEL's Green Hydrogen and Green Ammonia portfolio expansion
Strengthens the company's position in the emerging green fuel ecosystem in India

💡 This is a positive development highlighting the company's ability to secure off-take agreements in the high-growth green hydrogen sector. Investors should maintain a positive outlook on the stock as it executes its green energy transition strategy.

NTPC Green Energy Crosses 10 GW Milestone with New Solar Capacity in Gujarat

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 30 Mar 2026, 10:32 PM

NTPC Green Energy Limited (NGEL) has declared the commercial operation of 168.02 MW of solar capacity in Gujarat through its subsidiary, NTPC Renewable Energy Limited. This includes the final 78.02 MW of the 1255 MW Khavda-I project and 90 MW from the Khavda-II project. With these additions, the group's total installed capacity has officially surpassed the 10,000 MW (10 GW) milestone, reaching 10,075.70 MW. This operational scale-up is expected to contribute immediately to the company's revenue and EBITDA.

Declared commercial operation of 78.02 MW, completing the 1255 MW Khavda-I Solar PV Project
Commenced commercial operation of 90 MW as part of the 1200 MW Khavda-II Solar PV Project
Total group installed capacity increased to 10,075.70 MW from 9,907.68 MW
Operations for the new capacities are effective from March 31, 2026

💡 Investors should take note of the company's ability to hit the significant 10 GW operational milestone, which enhances its valuation and cash flow predictability. Continue to hold as the company executes its large-scale renewable pipeline.

NTPC Green Energy Appoints Shri Deepak C. S. as Company Secretary and Compliance Officer

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 25 Mar 2026, 05:05 PM

NTPC Green Energy Limited has appointed Shri Deepak C. S. as the Company Secretary and Compliance Officer effective March 25, 2026. He succeeds Shri Manish Kumar following a Board of Directors meeting held on the same day. Shri Deepak C. S. is a seasoned professional with over 25 years of experience in secretarial operations and corporate compliance across multiple sectors including banking and manufacturing. This transition is part of the company's regular administrative and regulatory compliance procedures.

Shri Deepak C. S. appointed as Company Secretary & Compliance Officer effective March 25, 2026
The new appointee brings over 25 years of experience in secretarial operations and corporate laws
Shri Deepak C. S. is a Fellow Member of ICSI and a qualified Resolution Professional
The Board meeting approving the appointment concluded at 4:40 PM on March 25, 2026

💡 This is a routine management change involving a compliance role and does not affect the company's fundamentals. No specific action is required from investors.

NTPC Green Energy Signs MoU with Nxtra Data for Pan-India RE RTC Power Supply

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 24 Mar 2026, 04:24 PM

NTPC Green Energy Limited (NGEL) has signed a Memorandum of Understanding with Nxtra Data Limited to develop Renewable Energy (RE) projects. The partnership aims to provide Round-The-Clock (RTC) green power to Nxtra's data centers across India for their captive consumption. This collaboration positions NGEL as a key supplier to the energy-intensive data center industry, which is increasingly shifting toward sustainable power sources. The agreement was signed on March 24, 2026, highlighting NGEL's strategic focus on the B2B renewable energy segment.

MoU signed on March 24, 2026, between NGEL and Nxtra Data Limited for RE project development.
Focus on providing Round-The-Clock (RTC) renewable energy to meet data center power requirements.
Projects will be developed on a PAN India basis specifically for Nxtra's captive consumption.
Strategic entry into the high-growth data center utility market to diversify the customer base.

💡 Investors should monitor the conversion of this MoU into definitive Power Purchase Agreements (PPAs) and the subsequent capacity additions. This partnership strengthens NGEL's long-term revenue visibility in the commercial and industrial (C&I) segment.

NTPC Green Energy to Close Trading Window from April 1, 2026, for Q4 and FY26 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Mar 2026, 12:36 PM

NTPC Green Energy Limited has announced the closure of its trading window for insiders starting April 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the quarter and year ending March 31, 2026. The window will remain closed until 48 hours after the results are officially announced to the stock exchanges. The specific date for the board meeting to approve these results will be communicated in due course.

Trading window closure effective from April 1, 2026.
Closure pertains to financial results for the quarter and year ended March 31, 2026.
Window to reopen 48 hours after the announcement of the financial results.
Complies with SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 This is a routine regulatory announcement with no direct impact on stock valuation. Investors should wait for the announcement of the board meeting date to track the company's Q4 and FY26 performance.

NTPC Green Energy Commissions 165 MW Solar Capacity at Khavda-II Project

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 18 Mar 2026, 09:26 PM

NTPC Green Energy Limited has declared the commercial operation of a 165 MW solar capacity at its Khavda-II Solar PV Project in Gujarat. This represents the fourth part of a larger 1200 MW project being executed by its subsidiary, NTPC Renewable Energy Limited. Following this addition, the group's total installed capacity has reached 9727.68 MW. This expansion is a key step in the company's strategy to scale its renewable energy portfolio and drive future revenue growth.

Commissioned 165 MW solar capacity out of the 1200 MW Khavda-II Solar PV Project
Commercial operation effective from March 19, 2026
Total installed capacity of NTPC Green Energy Group increased to 9727.68 MW
Current commercial capacity of the group stands at 9562.68 MW
Project executed by wholly owned subsidiary NTPC Renewable Energy Limited

💡 This capacity addition strengthens the company's operational base and cash flow visibility. Investors should remain positive on the stock as it continues to execute its massive renewable energy pipeline.

NTPC Green Energy Commissions 270 MW Solar Capacity at Khavda-II Project

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 10 Mar 2026, 05:02 PM

NTPC Green Energy's subsidiary, NTPC Renewable Energy Limited, has declared the commercial operation of a 270 MW solar capacity in Gujarat. This represents the third part of the larger 1200 MW Khavda-II Solar PV Project. Following this addition, the total installed capacity of the NTPC Green Energy Group has increased to 9562.68 MW. This operational milestone is expected to contribute to the company's revenue stream starting from March 11, 2026.

Commissioned 270 MW solar capacity out of the 1200 MW Khavda-II Solar PV Project in Gujarat
Commercial operation effective from 00:00 hrs on March 11, 2026
Total installed capacity of NTPC Green Energy Group increased to 9562.68 MW from 9292.68 MW
Project executed through wholly owned subsidiary NTPC Renewable Energy Limited

💡 Investors should maintain a positive outlook as the company continues to scale its operational capacity towards its long-term green energy targets. Monitor the execution timelines for the remaining capacity of the Khavda project.

NTPC Green Energy Group Capacity Reaches 9,292 MW with 91.6 MW Solar Project Commissioning

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 09 Mar 2026, 06:23 PM

NTPC Green Energy Limited (NGEL) has successfully declared the commercial operation of a 91.6 MW solar capacity in Andhra Pradesh, effective February 27, 2026. This capacity belongs to Ayana Kadapa Renewable Power, a subsidiary under the ONGC NTPC Green Private Limited joint venture. With this addition, the total installed capacity of the NGEL Group has increased to 9,292.68 MW. This commissioning completes the 250 MW Solar PV Project, following the previous operationalization of 158.4 MW.

Commissioned 91.6 MW solar capacity in Andhra Pradesh through JV ONGC NTPC Green Private Limited
Total installed capacity of NTPC Green Energy Limited Group increased to 9,292.68 MW
The 91.6 MW unit completes the 250 MW Solar PV Project following the first part of 158.4 MW
Commercial operation date (COD) for this capacity is effective from February 27, 2026

💡 Investors should view this as a positive development as it marks the completion of a major project and contributes to immediate revenue generation. Monitor the company's progress toward its long-term renewable energy targets and future JV project timelines.

NTPC Green Energy Completes RTA Change to Beetal Financial & Computer Services

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Mar 2026, 10:44 AM

NTPC Green Energy Limited has finalized the change of its Registrar & Share Transfer Agent (RTA) from KFin Technologies Limited to Beetal Financial & Computer Services (P) Limited. The transition was formalized through a tripartite agreement signed on March 5, 2026. This administrative update follows previous company intimations made in November 2025 and February 2026. Shareholders will now need to direct all share-related correspondence to the new RTA.

Tripartite agreement signed on March 5, 2026, between NTPC Green, KFin Tech, and Beetal Financial.
Official transition of RTA services from KFin Technologies to Beetal Financial & Computer Services (P) Limited.
Compliance completed under Regulation 7 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
The change follows a planned transition process initiated with earlier notifications on Nov 11, 2025, and Feb 4, 2026.

💡 No action is required regarding your shareholding, but ensure any future physical share transfers or dividend-related queries are directed to Beetal Financial.

NTPC Green Energy Commissions 50 MW Part Capacity of Dayapar Wind Project

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 25 Feb 2026, 09:58 PM

NTPC Green Energy Limited has announced the commercial operation of a 50 MW portion of its 200 MW Dayapar Wind Energy Project Phase-II in Gujarat. This project is managed by its wholly-owned subsidiary, NTPC Renewable Energy Limited, and became operational on February 26, 2026. With this addition, the group's total installed capacity has increased to 9201.08 MW from 9151.08 MW. This incremental capacity addition aligns with the company's aggressive growth strategy in the renewable energy sector.

Commissioned 50 MW out of the total 200 MW Dayapar Wind Energy Project Phase-II in Gujarat.
The project is executed through the wholly-owned subsidiary, NTPC Renewable Energy Limited.
Total installed capacity of NTPC Green Energy Group increased to 9201.08 MW.
Commercial operation effective from 00:00 hrs on February 26, 2026.

💡 Investors should view this as a positive step in the company's capacity ramp-up, which will contribute to future revenue growth. Monitor the progress of the remaining 150 MW of the Dayapar project.

View All NTPCGREEN Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated operating income grew by 12.64% YoY, reaching INR 2,210 Cr in FY25 compared to INR 1,962 Cr in FY24. Growth is driven by the expansion of operational renewable energy assets and the consolidation of NTPC REL.

Geographic Revenue Split

Not specifically disclosed by region, but the company maintains a pan-India presence with projects in states like Gujarat (Bhuj 100 MW Hybrid Project) and Chhattisgarh (via new JV with CSPGCL).

Profitability Margins

Profit After Tax (PAT) margin improved significantly to 21% in FY25 from 17% in FY24, representing a 400 basis point expansion due to better operational efficiencies and lower interest costs following debt repayment.

EBITDA Margin

EBITDA margin stands at approximately 86.74%, with an absolute EBITDA of INR 1,917 Cr on a revenue of INR 2,210 Cr in FY25. This high margin reflects the low operating cost nature of renewable energy assets once commissioned.

Capital Expenditure

The company has massive planned capital expenditure to reach 60 GW capacity by 2032. Recent utilization includes INR 4,150 Cr for debt repayment in NREL and a portion of INR 2,500 Cr for the acquisition of Ayana Renewable Power.

Credit Rating & Borrowing

Assigned 'Crisil AAA/Stable' for INR 5,000 Cr Non-Convertible Debentures and reaffirmed 'Crisil AAA/Stable/Crisil A1+' for INR 10,000 Cr bank facilities. Borrowing costs are minimized by the strategic parentage of NTPC, allowing access to capital markets at competitive rates.

⚙️ Operational Drivers

Raw Materials

Primary inputs are Solar PV modules, Wind Turbine Generators (WTGs), and Balance of Plant (BoP) equipment, typically procured through EPC contracts. These represent the bulk of the project cost (approx. 70-80% of total capex).

Import Sources

Not specifically disclosed in the documents, though the company utilizes the Engineering, Procurement, and Construction (EPC) route for project execution.

Key Suppliers

Not specifically named, but projects are executed through major EPC contractors with provisions for liquidated damages for delays.

Capacity Expansion

Current installed capacity is 7,645.675 MW as of December 2025, up from 3,779 MW in March 2025. The company is expanding to a target of 60,000 MW (60 GW) by 2032, with 13.5 GW currently under construction.

Raw Material Costs

Not disclosed as a percentage of revenue due to the utility business model where costs are capitalized; however, the company is exposed to cost overruns on 13.5 GW of under-construction assets if global component prices rise.

Manufacturing Efficiency

Operational assets witnessed an average PLF of 24% in FY25, which is in line with P90 levels, ensuring steady cash flows.

Logistics & Distribution

Not disclosed as a specific cost, but the company utilizes the existing national grid infrastructure for power evacuation.

📈 Strategic Growth

Expected Growth Rate

48%

Growth Strategy

Growth will be achieved through a massive capacity ramp-up from 7.6 GW to 60 GW by 2032. Strategies include JVs like the 50:50 venture with ONGC Green, the 74:26 JV with Chhattisgarh State Power (CSPGCL), and the acquisition of Ayana Renewable Power (4 GW total capacity).

Products & Services

Renewable energy power (Solar, Wind, and Hybrid), Green Hydrogen, and Green Mobility solutions.

Brand Portfolio

NTPC Green, NGEL, NREL.

New Products/Services

Development of Green Hydrogen and derivatives, and Green Mobility projects through the MoU with Singareni Collieries Company Limited (SCCL).

Market Expansion

Expansion into Chhattisgarh via the newly incorporated Chhattisgarh NTPC Green Energy Limited and exploration of RE projects in Telangana with SCCL.

Market Share & Ranking

Aims to be one of the largest renewable players in India; currently backed by NTPC, the dominant player in the domestic power sector.

Strategic Alliances

ONGC Green Limited (50:50 JV), Chhattisgarh State Power Generation Company Limited (74:26 JV), and Singareni Collieries Company Limited (MoU).

🌍 External Factors

Industry Trends

The industry is shifting toward 'Round The Clock' (RTC) renewable energy; NGEL's JV Ayana recently won a 140 MW RTC RE project, positioning the company for this transition.

Competitive Landscape

Competes with other large RE players like Adani Green and ReNew Power, but benefits from NTPC's project execution expertise and utility-scale experience.

Competitive Moat

Moat is derived from the 'NTPC' brand, which provides superior access to low-cost capital and land, and 25-year PPAs that lock in revenue. This is highly sustainable due to the sovereign-backed nature of the parent.

Macro Economic Sensitivity

Highly sensitive to interest rate fluctuations given the capital-intensive nature of the 60 GW expansion plan; a 1% rise in rates could significantly impact DSCR.

Consumer Behavior

Increasing demand from state discoms for renewable energy to meet Renewable Purchase Obligations (RPOs).

Geopolitical Risks

Trade barriers on solar cells/modules could increase project costs for the 13.5 GW under-construction portfolio.

⚖️ Regulatory & Governance

Industry Regulations

Beneficiary of the New Electricity (Late Payment Surcharge and Related Matters) Rules, 2022, which has reduced receivables from 131 days to 85 days by enforcing timely payments from discoms.