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NTPC Green Bags Battery Energy Storage Project In Kerala

The order value was not disclosed by the company.

<div class="paragraphs"><p>NTPC Green Energy Ltd. was the winning bidder in an e-reverse auction conducted by NHPC Ltd. for the setup of a battery energy storage project in Kerala (Photo Source: Envato)</p></div>
NTPC Green Energy Ltd. was the winning bidder in an e-reverse auction conducted by NHPC Ltd. for the setup of a battery energy storage project in Kerala (Photo Source: Envato)

NTPC Green Energy Ltd. was the winning bidder in an e-reverse auction conducted by NHPC Ltd. for the setup of a battery energy storage project in Kerala.

Under the project, the firm secured a cumulative capacity of 80 megawatt or 320 megawatt-hour under the competitive bidding process, the company's press release said on Thursday. The order value was not disclosed by the company.

The auction was part of NHPC's tender for the "Selection of Battery Energy Storage System" Developers for setting up of 125 Megavolt/500 Mwh. Inter-State Transmission System-connected standalone Battery Energy Storage System in the state of Kerala under tariff-based competitive bidding with viability gap funding support," according to the release from the company.

NTPC Green secured two projects. The first is for the development of a 40MW/160MWh at Pothencode Substation at a tariff of Rs 4,57,000/MW/month. The second is for the setup of 40MW/160MWh at Sreekantapuram Substation at a tariff of Rs 4,34,000/MW/month.

The letter of award from NHPC is awaited as of yet.

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Shares of NTPC Green Energy Ltd closed 5.67% higher at Rs 1,155.90 apiece on the NSE, compared to a 0.82% fall in the benchmark Nifty. The stock had risen 3.87% in the last 12 months and fallen 11.8% on a year-to-date basis.

Out of the four analysts tracking the company, three have a 'buy' rating on the stock, and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential downside of 14.4%.

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