- By Aditya Pratap Singh
- Wed, 11 Dec 2024 10:57 AM (IST)
- Source:JND
NTPC Green Energy share price surged over 5% during morning trade on Wednesday after the renewable energy arm of NTPC bagged a bid for a 500 MW solar power project in an auction organized by the Solar Energy Corporation of India (SECI). NTPC Green Energy Shares opened at Rs 152.51 and soared to hit an intraday high of 154.40 on NSE, up over 5% against the previous day's closing price of Rs 146.65.
At around 10:47 am, NTPC Green Energy Shares were trading at 149.14, up 1.7% on NSE.
NTPC Green Bags Order
NTPC Renewable Energy said on Tuesday that it had secured a 500 MW solar project from the Solar Energy Corporation of India (SECI). The auction was held on December 9, 2024. The project includes the installation of energy storage systems (ESS) with a total capacity of 1,000 MW/4,000 MWh.
Till November 30, 2024, the renewable energy portfolio of the NTPC Group stands at 4.1 GW operational capacity, with around 21 GW under construction and in various stages of bidding. The power company aims to achieve 60 GW of renewable energy capacity by 2032.
NTPC Renewable Energy is a division of state-run NTPC, while SECI is one of the nodal agencies for implementing RE projects in India.
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Shares Made Muted Debut
On the BSE, NTPC Green Energy shares debut at Rs. 111.60 per share, a premium of 3.33 per cent over the issue price of Rs 108. While on NSE, the shares were opened at Rs. 111.50, up 3.24 per cent against the IPO price.
NTPC Green Energy's initial share sale was open for subscription between November 19 to 22 last month. The green energy arm of NTPC raised Rs 10,000 crore by issuing 92,59,25,926 new equity shares. The IPO was priced at Rs. 102-108 per share and investors had to bid in a lot size of 138 shares. The IPO did not get an overwhelming response from investors as it was subscribed to 2.42 times.