NTPC Green Energy Secures 1,000 MW Solar Project With UPPCL at ₹2.56/kWh: What Does It Mean For Investors?

New Delhi, June 5, 2025: NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Limited, has announced that it has secured a massive 1,000 MW solar PV project in the solar auction held by the Uttar Pradesh Power Corporation Limited (UPPCL). The company has signed a Power Purchase Agreement (PPA) with the UPPCL at a discovered tariff of ₹2.56 per kWh on Wednesday (June 4).

This development follows the earlier announcement made on January 4, 2025, regarding NTPC Renewable Energy’s win in UPPCL’s solar power auction. With the project now under NTPC’s pipeline, it has become one of the largest utility-scale solar PPA commitments under competitive bidding this year.

The Details of The Project

NTPC secured the 1,000 MW project in the solar auction held by the Uttar Pradesh Power Corporation Limited (UPPCL). The tariff for the project is fixed at ₹2.56/kWh, placing this project among the more competitively priced solar agreements in India. The project aims to enhance grid-scale renewable energy deployment in the state of Uttar Pradesh.

How Did the Investors React to the News? 

The investors took the news positively as the shares of NTPC Green Energy were trading at ₹109.20, up by 1.20% in the early trading session on June 5th. Additionally, NTPC Green Energy has reported a 3x increase in net profit to ₹233 crore, compared to ₹81 crore last year. Quarterly revenue jumped 22.5% to ₹622.3 crore from ₹508 crore during the same period in 2024.

About NTPC Green Energy Limited

NTPC Green Energy Limited (NGEL) is a dedicated green energy platform under NTPC Limited. It focuses on utility-scale solar, wind, hybrid, and round-the-clock renewable energy projects. NGEL has been pivotal in executing renewable energy bids, driving the group’s commitment to a sustainable energy future.

The company’s Scrip Code is NTPCGREEN on NSE and 544289 on BSE.

What’s Ahead?

The order won by NTPC marks a significant boost to NTPC Renewable Energy’s order pipeline, expanding its green footprint across India and supporting NTPC Group’s target of achieving 60 GW of renewable energy capacity by 2032. This PPA underscores NTPC Group’s leadership in the renewable sector and aligns with national goals of transitioning to cleaner energy sources. It also reinforces UPPCL’s strategy to diversify its energy mix and meet rising power demand through cost-effective and sustainable sources.

REF:https://nsearchives.nseindia.com/corporate/dinesh01_04062025211657_DisclosureUPPCLPPA04062025.pdf

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