NTPC Green Energy Signs MoU With Singareni Collieries to Develop Renewable Energy Projects

New Delhi, November 20: NTPC Green Energy Limited has announced that it has signed a Memorandum of Understanding with The Singareni Collieries Company Limited. The MoU is for jointly exploring and developing numerous renewable energy projects. The company signed the agreement yesterday, on November 19, in Hyderabad.

NTPC Green Energy Limited (NSE: NTPCGREEN, BSE: 544289) is a renewable energy company. It is the subsidiary of NTPC Limited. It develops solar, wind, and hybrid power projects. The company was established in 2022, and is headquartered in New Delhi, India.

Strategic Collaboration to Boost Clean Energy

As per the company’s announcement, both the companies signed the MoU in Hyderabad. Senior officials of both NTPC Green Energy and Singareni Collieries were present at the signing ceremony, including SCCL Chairman and Managing Director N Balram. Under the MoU, both the companies will jointly develop solar power projects, wind and hybrid renewable energy systems, energy storage–linked projects, green hydrogen and derivatives, and green mobility initiatives.

Shares Rise 0.30% At ₹98.47

As of 9:20 AM, NTPC Green Energy share price was up by 0.30%, or 0.29 point, and was trading at ₹98.47. Until now, the shares have traded within a range of ₹99.11 and ₹98.26. The traded volume stood at 3.50 lakh shares, with the company’s market cap at ₹82,730 crore.

Investor Takeaway for NTPC Green Energy

NTPC Green Energy’s MoU with The Singareni Collieries Company Limited will expand the company’s green energy business. It will allow the company to explore more green energy projects, which is likely to contribute to its revenue and potential profits. The announcement has boosted investor sentiments today, and the share price has opened higher than its previous close.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/8aef7bc2-bdb5-4dc9-8b1f-47edc189ed3c.pdf

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