Latest news with #Competitive
Mint
3 days ago
- Business
- Mint
NTPC Green Energy share price gains over 3% on signing of 1000 MW power purchase deal
NTPC Green Energy share price in focus: Shares of NTPC Green Energy, a wholly owned subsidiary of NTPC Limited that recently debuted on Dalal Street, soared 3.8% in early trade on Thursday, June 04, to reach ₹ 112. The rally followed an exchange filing by the company on Wednesday, in which it announced that NTPC Renewable Energy, a wholly owned subsidiary of Green Energy, had signed a Power Purchase Agreement (PPA) for a 1,000 MW capacity at a discovered tariff of ₹ 2.56 per kWh. NTPC Renewable Energy had won the 1,000 MW project in the Uttar Pradesh Power Corporation Ltd. (UPPCL) solar PV power project through an e-reverse auction held on January 4. The tender was part of the 'Selection of Solar Power Developers for Setting up 2000 MW ISTS-connected Solar PV Power Projects in India under Tariff-Based Competitive Bidding.' NTPC REL secured a capacity of 1,000 MW under this process. The shares have been buzzing on Dalal Street lately, driven by multiple renewable energy order wins and a strong performance in the March quarter. On May 22, the company also announced that it had successfully emerged as the winning bidder in the e-reverse auction conducted by NHPC Limited on May 21, 2025, securing a cumulative capacity of 80 MW/320 MWh under the competitive bidding process. For the March ending quarter, the company reported a net profit of ₹ 233.21 crore, a 255% YoY jump, while its consolidated revenue from operations rose 22.4% year-on-year to ₹ 622.27 crore. For the full year, NTPC Green's net profit rose 39% to ₹ 475.5 crore in FY25, from ₹ 342.8 crore in FY24. Revenue from operations grew 12.5%, reaching ₹ 2,209.6 crore in FY25 compared to ₹ 1,962.6 crore in the previous fiscal year. The company shares over the last four months have jumped from ₹ 87 apiece to the current level of ₹ 109, resulting in a healthy gain of 25.3%. The company's shares debuted on Dalal Street on November 27 at ₹ 121.70, compared to the IPO price of ₹ 108. The stock initially maintained its upward momentum, reaching an all-time high of ₹ 155.35 apiece. At current levels, the stock is trading at a modest 10.4% discount to its listing price of ₹ 121.70 but trades near to the IPO price. Despite recent volatility, analysts remain bullish on the stock, citing NTPC Green Energy's strong fundamentals and strategic positioning in India's renewable energy sector. NTPC Green is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity. Its portfolio includes both solar and wind assets across more than six states, helping mitigate the risks associated with location-specific generation variability. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Agriland
07-05-2025
- Business
- Agriland
EU Commissioner to visit Shannon region
An EU Commissioner to set to visit the Shannon region to see first-hand concerns about flooding, nature restoration and rural transition. EU Executive Vice-President for a Clean, Just and Competitive Transition, Teresa Ribera accepted the invitation from Independent Ireland MEP Ciaran Mullooly following a meeting in Strasbourg. MEP Mullooly said he was 'pleased that the commissioner now had a better understanding of the major issues of concern to farmers, caused by the new Nature Restoration Act and previous historical flooding along the River Shannon catchment area.' Shannon region MEP Mullooly met with the Save Our Shannon Committee in Athlone in February to discuss their concerns. Today (Wednesday, May 7), he handed over a letter from the committee seeking EU support to address ongoing threats to farm incomes, harvesting and livestock losses caused by serious, annual flooding along the River Shannon. 'I am pleased that Commissioner Ribera was in a position to listen to the first-hand stories I presented today of farmers such as Michael Silk from Meelick, Co. Galway, who have spent the last 30 years campaigning for recognition of the special circumstances that the farmers in this region have to live in,' Mullooly said. Commissioner Ribera said she was acutely aware of the issues surrounding the Nature Restoration Act. However, she felt compensation and financial supports must be dealt with in the context of negotiations on the Multi-Annual Funding Framework, or EU budget, and the Common Agricultural Policy (CAP). MEP Mullooly also raised his proposal for a new Just Transition Fund for the Midlands. He emphasised the need to simplify the fund and introduce pre-funding of up to 40% for community groups unable to raise initial funds. He also highlighted the need for greater EU support for local community-led groups in renewable energy scheme projects, enabling citizens to participate and invest in their communities. Executive Vice-President Ribera promised to discuss both matters with her relevant colleagues in the commission.
