NTPC Ltd. said on Wednesday that the company and its subsidiary NTPC Green Energy Ltd. have signed agreements worth Rs 96,000 crore with the Chhattisgarh government at the Chhattisgarh Energy Investors Summit 2025 in Raipur.
The agreements cover nuclear, pumped hydro, and renewable energy projects in the state, according to a statement to the exchanges.
NTPC signed an agreement with the Chhattisgarh government to develop 4,200 megawatt of nuclear capacity with an estimated investment of Rs 80,000 crore, the statement said, adding that another agreement between Chhattisgarh State Power Generation Company Ltd. and NTPC aims to develop a 1,200 MW pumped hydro storage project in Gariyaband district, with an investment of Rs 5,876 crore.
A joint venture agreement between NGEL and CSPGCL was also signed to develop renewable energy projects up to 2 GW in Chhattisgarh. The project, estimated at Rs 10,000 crore, will help CSPGCL meet its Renewable Generation Obligation and Chhattisgarh DISCOM fulfil its Renewable Purchase Obligation.
Shares of NTPC closed 0.15% lower at Rs 329.40 apiece, compared to a 0.41% decline at the benchmark NSE Nifty 50. It has fallen 6.47% in the last 12 months.
Shares of NTPC Green Energy closed 2.19% lower at Rs 95.11 apiece, compared to a 0.41% decline at the benchmark NSE Nifty 50.
Twenty-two out of the 26 analysts tracking NTPC have a 'buy' rating on the stock, two recommend a 'hold,' and two suggest a 'sell,' according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 24.9%.
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