NTPC Green Energy Ltd., a subsidiary of state-run NTPC Ltd., on Wednesday announced the successful commissioning of the second and final part of its 105 MW Shajapur Solar Project (Unit-1) located at Shajapur Solar Park in Madhya Pradesh.
According to the company's exchange filing, the second phase, comprising 50 MW, has been declared commercially operational from Thursday. The first part's capacity of 55 MW had already been declared operational with effect from Nov. 29, 2024, and has been supplying power since then.
With this development, the entire 105 MW capacity of the Shajapur Solar Project is now fully operational. The project is being implemented by NTPC Renewable Energy Ltd., a wholly owned subsidiary of NTPC Green Energy.
JV Formed to Develop 2 GW Green Projects
Separately, NTPC Green Energy also announced that it has signed a joint venture agreement with Chhattisgarh State Power Generation Company Ltd. on Monday, during the Chhattisgarh Energy Investors Summit held at Raipur.
The purpose of the agreement is to develop renewable energy projects with a combined capacity of up to 2 GW in Chhattisgarh or other identified locations. The projects will include solar, wind, and hybrid installations, along with the identification of reservoirs for floating solar projects.
As per the agreement, a joint venture company will be formed, with NTPC Green Energy holding a 74% stake and CSPGCL holding 26%. The JVC will focus on developing, operating, and maintaining renewable energy parks, including Ultra Mega Renewable Energy Power Parks, and supplying power to CSPGCL, state DISCOMs, other distribution companies, and commercial and industrial customers across India.
The JVC will have an initial authorised and paid-up capital of Rs 10 lakh, and the board composition will include three directors appointed by NTPC Green Energy and one director by CSPGCL.
Shares of the company closed 2.02% higher at Rs 97.51 per share, compared to a 0.12% decline in the NSE Nifty 50. It has fallen 19.84% in the last 12 months.
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