NTPC Green Energy

May 22 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• NTPC GREEN ENERGY MARCH-QUARTER CONSOL NET PROFIT 1.97 BILLION RUPEES

• NTPC GREEN ENERGY MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 9.13 BILLION RUPEES

• NTPC GREEN ENERGY - TO RAISE FUNDS UP TO 50 BILLION RUPEES DURING FY 2026-27

Further company coverage: NTPG.NS

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May 14 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• NTPC GREEN ENERGY LTD - DECLARES 12.5 MW (CUMULATIVE 100 MW) OF RAJASTHAN SOLAR PROJECT OPERATIONAL FROM MAY 15, 2026

• NTPC GREEN ENERGY LTD - DECLARES 50 MW (CUMULATIVE 200 MW) OF RAJASTHAN SOLAR PROJECT OPERATIONAL FROM MAY 15, 2026

Source text: ID:nBSE3W5L13

Further company coverage: NTPG.NS

(([email protected];))

Refiles to add reporting credits

** Shares of India's NTPC Green Energy NTPG.NS jump 5.88% to 97.75 rupees

** Co signed MoU with PTC India PTCI.NS for exploring possibilities of power sale of renewable energy

** Co also declared 37.5 MW solar capacity and 13.2 MW wind capacity at Gujarat project on commercial operation on Tuesday

** Co said unit NTPC Renewable Energy executed a purchase agreement with Solar Energy Corporation of India SOLN.NS for supply of green ammonia

** Stock rated "buy" on average by 5 analysts, median PT at 115 rupees -- data compiled by LSEG

** YTD, stock down 2.36%

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_))

March 31 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• NTPC GREEN ENERGY - UNIT EXECUTES GREEN AMMONIA AGREEMENT WITH SECI ON MARCH 30, 2026

• NTPC GREEN ENERGY - AGREEMENT ENTAILS SUPPLY OF 70,000 MTPA GREEN AMMONIA

Source text: ID:nNSE4sdHHG

Further company coverage: NTPG.NS

(([email protected];))

** NTPC Green Energy NTPG.NS up 2.5% to 100.37 rupees; set to rise for second straight week

** Co says unit NTPC Green Energy's fourth part capacity of 165MW out of 1200MW Khavda-II Solar PV Project in western state of Gujarat commercially operational

** Unit's total installed capacity to increase to 9,727.68MW

** Stock rated "buy" on avg; median PT is 115 rupees, per data compiled by LSEG

** YTD, NTPG up ~3.5%

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

** NTPC Green Energy NTPG.NS rises 1.34% to 97.33 rupees

** HDFC Securities starts with "buy", PT of 121 rupees, citing strong growth visibility, execution track record

** Sees renewable capacity ramp-up from ~8GW to 60GW by FY32, driven by co's strong execution capabilities

** Expects revenue, EBITDA to grow at ~82% CAGR over FY26–FY29 on capacity additions

** Adds parent NTPC's NTPC.NS backing is key support for execution, financing; flags demand drivers such as data centres, storage, green hydrogen

** YTD, NTPG up 1.66% vs NTPC's 16.33% rise

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

March 10 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• DECLARES COMMERCIAL OPERATION OF THIRD PART OF KHAVDA-II SOLAR PV PROJECT

Source text: ID:nNSE8593Xj

Further company coverage: NTPG.NS

(([email protected];))

March 9 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• DECLARES COMMERCIAL OPERATION OF 91.6 MW SOLAR PV PROJECT IN ANDHRA PRADESH

Source text: ID:nBSEbryqgV

Further company coverage: NTPG.NS

(([email protected];;))

Feb 20 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• 165 MW SECOND PART CAPACITY AT KHAVDA-II SOLAR PV PROJECT DECLARED OPERATIONAL

Source text: ID:nBSE81M2tZ

Further company coverage: NTPG.NS

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Feb 9 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• NTPC GREEN ENERGY - 14.43 MW KHAVDA-I SOLAR PROJECT DECLARED OPERATIONAL

Source text: ID:nBSEbNgG7h

Further company coverage: NTPG.NS

(([email protected];))

Feb 3 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• NTPC GREEN ENERGY LTD - SECOND PART OF 125 MW BHADLA SOLAR PV PROJECT DECLARED ON COMMERCIAL OPERATION

Source text: ID:nBSE3MwTvl

Further company coverage: NTPG.NS

(([email protected];))

Jan 29 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• DEC-QUARTER CONSOL NET PROFIT 174.8 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 6.53 BILLION RUPEES

Further company coverage: NTPG.NS

(([email protected];))

Jan 22 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• SIGNS MOU WITH UTTAR PRADESH GOVERNMENT FOR RE AND GREEN HYDROGEN PROJECTS

Source text: ID:nBSEbVk7m3

Further company coverage: NTPG.NS

(([email protected];))

Oct 31 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• NTPC GREEN ENERGY LTD - SIGNS MOU WITH CTRLS DATACENTER LIMITED FOR DEVELOPMENT OF RE PROJECTS

• NTPC GREEN ENERGY LTD - SIGNS MOU WITH CTRLS DATACENTER

• NTPC GREEN ENERGY LTD - MOU TARGETS 2 GW RENEWABLE ENERGY PROJECTS

Source text: ID:nBSE9HJKwF

Further company coverage: NTPG.NS

(([email protected];;))

Oct 23 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• NTPC GREEN ENERGY LTD - 9.9 MW WIND CAPACITY IN BHUJ, GUJARAT DECLARED OPERATIONAL

Source text: ID:nBSEbhXQDz

Further company coverage: NTPG.NS

(([email protected];))

Oct 15 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• NTPC GREEN ENERGY LTD - 12.5 MW SOLAR CAPACITY IN BHUJ, GUJARAT DECLARED OPERATIONAL

Source text: ID:nBSE95WnhV

Further company coverage: NTPG.NS

([email protected])

BENGALURU, Oct 14 (Reuters) - LG Electronics India LGEL.NS made a stellar stock market debut on Tuesday, listing at a premium of 50% to its issue price of 1,140 rupees per share.

This is the best listing for a billion-dollar Indian initial public offering since Eternal ETEA.NS, the parent company of food delivery and restaurant-listing platform Zomato, debuted in 2021.

Here's a look at how India's other billion-dollar IPOs have done this decade:

SBI CARDS AND PAYMENT SERVICES (MARCH 2020)

The credit card arm SBIC.NS of India's largest lender, State Bank of India SBI.NS, slid about 13% in market debut, as the COVID-19 pandemic worries dampened enthusiasm for one of the country's largest public listings.

ETERNAL, FORMERLY KNOWN AS ZOMATO (JULY 2021)

The food and grocery delivery platform listed at a premium of 51.3% to its issue price, giving the startup a valuation of about $13 billion and setting the stage for other domestic startups waiting in the wings with listing plans of their own.

ONE97 COMMUNICATIONS (NOVEMBER 2021)

The parent of digital payments start-up, Paytm PAYT.NS, made one of the worst major Indian stock market debuts as its shares listed at a 9% discount and closed the first day 27% below its offer price due to concerns over profitability and lofty enterprise value.

LIFE INSURANCE CORPORATION OF INDIA (MAY 2022)

Shares of India's biggest insurer LIFI.NS slid nearly 9% in market debut amid broader market volatility and concerns over its market share loss to rivals.

HYUNDAI MOTOR INDIA (OCTOBER 2024)

The automaker's shares HYUN.NS fell 1.5% on listing after retail investors gave a lukewarm reception to the country's biggest-ever IPO amid concerns about a lofty valuation and an auto industry slowdown.

SWIGGY (NOVEMBER 2024)

The SoftBank-backed food and grocery delivery platform SWIG.NS listed at a 5.6% premium and extended gains through the day, signaling growing investor confidence in the segment.

NTPC GREEN ENERGY (NOVEMBER 2024)

The renewable energy firm's shares NTPG.NS jumped as much as 14% on their debut, as investors bet on the country's growing clean energy needs and the company's diversified portfolio.

HDB FINANCIAL SERVICES (JULY 2025)

Non-banking financial lending arm HDBF.NS of the country's largest private lender HDFC Bank HDBK.NS jumped about 13% on listing, notching a valuation of $8.2 billion, as investors bet on long-term growth prospects in the world's most populous country.

TATA CAPITAL (OCTOBER 2025)

India's third-largest non-bank lender TATC.NS made a muted debut, listing slightly higher than its issue price at a $15.78 billion valuation, with investors seemingly not that keen on the Tata Group's first IPO in two years due to a crowded IPO market and lack of valuation discount to listed peers.

(Reporting by Vivek Kumar M; Editing by Rashmi Aich)

(([email protected]))

Oct 10 (Reuters) - NTPC Green Energy NTPG.NS:

• INKS MOU WITH ENEOS CORPORATION

Source text: ID:nBSE9jYJMp

Further company coverage: NTPG.NS

(([email protected];))

NEW DELHI, Oct 1 (Reuters) - India's northeastern state of Assam has withdrawn its flagship clean energy policy announced in February, according to a document reviewed by Reuters and sources with direct knowledge of the matter, clouding millions of dollars of planned investments.

Earlier this year, Assam, the largest state in India's northeast, sought to attract investments to a region that has lagged in renewable energy adoption by offering financial incentives and waivers.

The February policy offered subsidies on power transmission and eased bank guarantee requirements to support clean energy projects in the state.

An internal memo dated July 18, reviewed by Reuters, said the integrated clean energy policy was withdrawn following a cabinet decision, without specifying the reason for its reversal.

Assam's power department did not respond to a Reuters email seeking comment on the policy withdrawal.

The Assam government has not issued an official withdrawal of the clean energy policy, industry sources said.

Energy companies including NTPC Green NTPG.NS, Larsen & Toubro LART.NS, Singapore-listed Sembcorp SCIL.SI, and Abu Dhabi-based Ocior have bid for green hydrogen projects in Assam, the sources and bid documents reviewed by Reuters said.

Inconsistent policies from state governments pose challenges to planned investments, said a senior NTPC official, who did not want to be identified due to the sensitive nature of the matter.

In June, Reuters reported that Assam had put its flagship green hydrogen policy on hold, surprising investors.

(Reporting by Sethuraman N R; Editing by Mayank Bhardwaj and Ronojoy Mazumdar)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Updates Aug 1 story with details on power ministry data on stranded capacity, in paragraphs 9-10

By Sudarshan Varadhan

SINGAPORE, Aug 1 (Reuters) - India's stranded renewable power capacity - projects awarded but unable to come online - more than doubled over nine months, due to unfinished transmission lines, and legal and regulatory delays, letters from an industry group to the government showed.

The South Asian nation aims to more than double its non-fossil fuel power capacity to 500 gigawatts by 2030, but the acceleration has left projects without firm agreements to supply power.

Renewable projects that won tenders to generate power but are yet to sign power purchase agreements with buyers have surged to over 50 gigawatts, India's Sustainable Projects Developers Association said in a letter to the Ministry of New and Renewable Energy on June 27.

That compared with stranded projects of over 20 GW, another letter sent by the SPDA on October 4 showed. Both letters were reviewed by Reuters.

Tendered projects cumulatively worth billions of dollars awarded to companies including JSW, NTPC NTPC.NS, NTPG.NS, Adani Green ADNA.NS, ACME Solar ACMO.NS, Renew RNW.O and Sembcorp SEMB.NS are stranded, two industry officials familiar with the matter said.

"Energy transition is not just about building solar and wind capacity, it is also about ensuring that clean power reaches in a most optimum cost and timely manner," the SPDA said in its June 27 letter to the renewable energy ministry.

The stranded solar and wind capacity without buyers of over 50 GW reported by the SPDA is about a quarter the size of India's current installed renewable capacity of 184.6 GW.

The companies did not respond to Reuters requests seeking comment.

A spokesperson for India's power ministry told Reuters on Saturday renewable projects of about 44 GW had been awarded generation licences by federal agencies - which account for most tenders - but did not have supply agreements.

He did not elaborate on the scale of the increase in stranded projects, the duration of delay or companies affected.

Delays in critical transmission infrastructure - especially in sun-drenched states such as Rajasthan and Gujarat - have forced many solar plants to miss commissioning deadlines, the SPDA said in the June letter.

Interstate transmission lines connecting renewable energy projects to the grid are being fast-tracked, and compensation for landowners allowing power cables on their property has been increased to facilitate construction, the ministry spokesperson said.

India plans to connect 230 GW of renewable energy projects to the grid through interstate transmission lines, of which 20% have been completed, 70% are under construction and the remainder is being bid out, he said, without specifying a timeline for completion.

Renewable projects are also stuck due to prolonged legal disputes over land and environmental permissions, SPDA said, adding that several developers have paused operations over unresolved court cases.

(Reporting by Sudarshan Varadhan; Editing by Frances Kerry, Louise Heavens and Alison Williams)

(([email protected]; +65 91164984;))

By Sudarshan Varadhan

SINGAPORE, Aug 1 (Reuters) - India's stranded renewable power capacity - projects awarded but unable to come online - more than doubled over nine months, due to unfinished transmission lines, and legal and regulatory delays, letters from an industry group to the government showed.

Renewable projects that won tenders to generate power but are yet to sign power purchase agreements with buyers have surged to over 50 gigawatts (GW), India's Sustainable Projects Developers Association (SPDA) said in a letter to the Ministry of New and Renewable Energy on June 27.

That compared with stranded projects of over 20 GW, another letter sent by the SPDA on October 4 showed. Both letters were reviewed by Reuters.

The stranded solar and wind capacity without buyers of over 50 GW reported by the SPDA is about quarter the size of India's current installed renewable capacity of 184.6 GW.

"India's energy transition is not just about building solar and wind capacity, it is also about ensuring that clean power reaches in a most optimum cost and timely manner," the SPDA said in the June 27 letter to the renewable energy ministry.

The ministry did not immediately respond to a request seeking comment.

India has been ramping up renewables as it pushes to more than double its non-fossil fuel power capacity to 500 GW by 2030. A record 22 GW of solar and wind capacity came online in the six months ended June, government data showed.

However, tendered projects cumulatively worth billions of dollars awarded to companies including JSW, NTPC NTPC.NS, NTPG.NS, Adani Green ADNA.NS, ACME Solar ACMO.NS, Renew RNW.O and Sembcorp SEMB.NS are stranded, two industry officials familiar with the matter said.

The companies did not respond to Reuters requests seeking comment.

The SPDA includes leaders of some of India's largest renewable energy producers Renew Power, ACME Group and Avaada Group as members of its core committee.

Delays in critical transmission infrastructure - especially in sun-drenched states such as Rajasthan and Gujarat - have forced many solar plants to miss commissioning deadlines, risking financial penalties and potential loss of government incentives, the SPDA said in the June letter.

The SPDA urged the government in the same letter to recognise delays in approvals and transmission construction as force majeure events to help protect developers from financial penalties, and to expedite regulatory permissions.

Renewable projects are also stuck due to prolonged legal disputes over land and environmental permissions, it said, adding that several developers have paused operations over unresolved court cases.

(Reporting by Sudarshan Varadhan
Editing by Frances Kerry)

(([email protected]; +65 91164984;))

July 30 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• NTPC GREEN ENERGY LTD - 6 MW OF DAYAPAR WIND PROJECT DECLARED OPERATIONAL

Source text: ID:nBSE8vx82q

Further company coverage: NTPG.NS

(([email protected];))

** Renewable energy provider NTPC Green Energy NTPG.NS rises 2.4% to 108.29 rupees

** Co inks memorandum of understanding with Bihar State Power Generation Company for the development of battery energy storage projects

** YTD, NTPG shares down 15%

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

By Sethuraman N R and Sudarshan Varadhan

July 11 (Reuters) - India's northeastern state of Assam has put its flagship green hydrogen policy on hold, government and industry sources said, surprising investors already hit by a cut in incentives for clean energy projects.

The state, the largest in the northeast, has sought to attract major investments in a region that has lagged behind much of the country in renewable energy adoption, offering financial incentives and waivers to bring in electricity.

Energy firms, including NTPC Green NTPG.NS, Larsen And Toubro LART.NS, Singapore-listed Sembcorp SCIL.SI, and Abu Dhabi-based Ocior, expressed initial interest in bidding for green hydrogen projects in Assam, four sources familiar with the matter told Reuters.

Assam's decision to pause the green hydrogen policy surprised some of the companies, forcing them to recalibrate potential returns and investment plans worth millions of dollars, three of the sources said.

The state is now working on a new draft policy, which is expected by the end of this month, the government official said.

The companies did not respond to Reuters' emails seeking comment. The industry officials and sources declined to be identified as they are not authorised to speak on the matter.

Green hydrogen is produced using clean electricity and is seen as a decarbonisation tool to help limit global warming.

"Every state keeps on revising its policy and what incentive it can give based on the demand and requirement," Krishna Kumar Dwivedi, principal secretary at Assam's power department, said without elaborating.

He did not provide details on why Assam is holding back on the policy or the reasons for cuts in previously announced incentives.

The clean energy policy was first unveiled in February. In June, Assam sharply reduced transmission subsidies and increased bank guarantees in its solar policy compared to the initial framework.

"Investors look for long-term stability even if policies aren't best designed," said Debabrat Ghosh, head of India at Aurora Energy Research.

An official from a large Indian renewables developer said the lack of renewable energy sources in Assam will make green hydrogen projects in the state dependent on its neighbours for power, which will drive up costs and lower competition.

"Without adequate subsidies for transmission, power costs could be 10%-15% higher. Unless such costs are reduced, Assam will fall behind other states with more competitive policies," the official said.

(Reporting by Sethuraman NR; Editing by Sonia Cheema)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to add topic code.

By Shritama Bose

MUMBAI, July 8 (Reuters Breakingviews) - Dark clouds are gathering over India's renewable energy boom. A global consortium last week raised its offer to take ReNew Energy RNW.O, the country's second-largest green power producer, private from New York. But the implied $10 billion valuation is a discount to peers trading in Mumbai. Even with the prospect of a relisting back home, the buyers can drive a hard bargain.

The latest offer of $8 per share is a measly 13% increase from a December proposal and values the target's enterprise at just under 7 times its forecast next-fiscal year EBITDA, per LSEG. That's well below the 19 times at larger rival Adani Green ADNA.NS, which trades in Mumbai.

That will be a disappointment for minority shareholders, who own 36% of the company. Worse, the buyer group, including ReNew founder and CEO Sumant Sinha and the Canada Pension Plan Investment Board, insists this is a final offer and that it will give investors "immediate liquidity and value certainty not available in public markets".

They may have a point. ReNew listed in 2021 on Nasdaq via a special purpose acquisition company, and its shares have been underwater since, prompting Sinha to complain that public markets value renewable energy businesses poorly. Moreover, no other bidders have emerged, strengthening the consortium's hand.

And it will not be lost on investors that the target's peers, though richly valued, are losing their shine. Once stock market darlings, Adani Green Energy, state-backed NTPC Green NTPG.NS and others have all underperformed the broader Indian market this year; as recently as February, Adani Green's enterprise traded on over 40 times forward EBITDA. That might dim prospects of a quick relisting at home for ReNew.

Increasing concerns of overcapacity in India's booming green power sector are probably to blame. The government issued a record 73 gigawatts of utility-scale renewable energy tenders last year, but undersubscriptions, cancellations, delays plus a backlog of unsigned power purchasing agreements are all also rising, according to the Institute for Energy Economics and Financial Analysis. In May, spot power prices in the country dropped to zero for the first time, due to a glut of solar generation.

Against this moody backdrop, ReNew's long-suffering shareholders may be ready for an exit.

Follow Shritama Bose on Linkedin and X.

CONTEXT NEWS

A consortium of shareholders in Nasdaq-listed green power producer ReNew Energy Global on July 2 made a final non-binding offer to take the company private. The group raised its offer to $8 per share from the $7.07 it had proposed in December.

The new offer represents a 17.5% premium to the last traded price and values the company's equity at nearly $3 billion, according to Breakingviews calculations.

Canada Pension Plan Investment Board, Abu Dhabi Investment Authority, and ReNew Chair Sumant Sinha, who control a combined 64% of shareholder votes in the company, are members of the consortium. United Arab Emirates-based Masdar joined the group as a new investor.

The revised proposal will give shareholders "immediate liquidity and value certainty not available in public markets", the consortium said in a letter to ReNew's board.

(Editing by Robyn Mak; Production by Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))

May 21 (Reuters) - India's NTPC Green Energy NTPG.NS, the renewable energy arm of power producer NTPC NTPC.NS, reported a nearly three-fold increase in fourth-quarter profit on Wednesday, driven by higher power sales and interest income, sending its shares up 3%.

The company, which made its stock market debut in November last year, said its profit rose to 2.33 billion rupees ($27.2 million) in the quarter ended March 31, from 809.5 million rupees a year earlier.

Indian companies are ramping up renewable energy investments and expanding their green portfolios as the country aims to build at least 500 gigawatts (GW) of clean energy capacity by 2030 to curb carbon emissions.

NTPC Green said revenue from operations increased to 6.22 billion rupees, from 5.08 billion rupees in the same period last year.

The company, which raised $1.2 billion in its IPO, also reported a threefold jump in interest income from IPO proceeds deposited in banks.

NTPC Green currently has an operational portfolio of about 4 GW, with 20 GW under construction, and is targeting 60 gigawatts (GW) of renewable energy capacity by fiscal 2032.

Its shares closed up 2.93% at 106.16 rupees on the day. They have lost about 5% since the IPO.

(Reporting by Yagnoseni Das in Bengaluru; Editing by Savio D'Souza)

(([email protected];))

May 2 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• COMMERCIALIZES 60 MW SOLAR CAPACITY

Source text: ID:nBSEc0J49X

Further company coverage: NTPG.NS

(([email protected];;))

May 1 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• NTPC GREEN ENERGY LTD - 75 MW CAPACITY OF IRCON RENEWABLE POWER PLANT DECLARED OPERATIONAL

Further company coverage: NTPG.NS

(([email protected];))

April 24 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• TO CONSIDER BORROWING UP TO 50 BILLION RUPEES DURING FINANCIAL YEAR 2025-26

• TO CONSIDER BORROWING BY ISSUING DEBENTURES (BONDS/ NCDS) IN ONE OR MORE TRANCHES

Source text: ID:nBSEbnwzvD

Further company coverage: NTPG.NS

(([email protected];;))

April 8 (Reuters) - NTPC Green Energy Ltd NTPG.NS:

• 90 MW OF DAYAPAR WIND ENERGY PROJECT PHASE-I DECLARED OPERATIONAL

Source text: ID:nBSE2mZHcd

Further company coverage: NTPG.NS

(([email protected];;))