NTPC Green Energy And RVUNL Form JV NTPC Rajasthan Green Energy

NTPC Green Energy Ltd. and Rajasthan Rajya Vidyut Utpadan Nigam Ltd.—a Rajasthan government undertaking—have jointly incorporated NTPC Rajasthan Green Energy Ltd.

NTPC Green Energy will hold 74%, while Rajasthan Rajya Vidyut Utpadan Nigam will acquire a 26% stake in the joint venture, according to an exchange filing on Wednesday.

The JV will assist in developing, operating and maintaining renewable energy parks, including solar, wind, and hybrid energy projects, with or without storage, having a total capacity of up to 25 gigawatts. Also, it will help in developing a green hydrogen plant with up to one million tonnes of capacity through a suitable model.

Additionally, NTPC Green Energy will hold 74,000 equity shares of the JV at a face value of Rs 10 each, the filing said.

On Jan. 4, the company won a 1000-megawatt power project under the Uttar Pradesh Power Corp.'s solar PV power project auction.

Earlier in December, NTPC Renewable Energy Ltd., a wholly owned subsidiary of NTPC Green Energy Ltd., won the bid in the e-reverse auction conducted by the Solar Energy Corp. for the development of 2,000-megawatt solar power projects.

The auction was held on Dec. 9 and includes the establishment of energy storage systems with a total capacity of 1,000 MW and 4,000 MW hours.

Shares of NTPC Green Energy closed 1.23% higher at Rs 125.45 apiece on the National Stock Exchange, compared to a 0.08% fall in the benchmark Nifty. The share price has risen 3.12% from the time it was listed in November 2024.

One analyst tracking the company suggests a 'sell' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 44.2%.