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NTPC Green Energy wins major battery energy storage project in Kerala

NTPC Green Energy Limited (NGEL) on Thursday said it has won a major battery energy storage project in Kerala, following a successful bid in an e-reverse auction held by NHPC Limited on Wednesday, May 21. NGEL secured a total battery storage capacity of 80MW/320MWh through a competitive bidding process. The auction was part of NHPC's tender "Selection of Battery Energy Storage System (BESS) Developers for setting up of 125MW / 500MWh InSTS-connected standalone BESS in the state of Kerala under Tariff-Based Competitive Bidding (TBCB) with Viability Gap Funding (VGF) support". Under this initiative, NGEL has been selected for two key battery storage projects: * 40MW/160MWh at Pothencode substation at a tariff of Rs 4,57,000/MW/month NTPC Green Energy Q4 results On Wednesday, NTPC Green Energy posted its Q4 results after market hours. In the quarter under review, the company's net profit stood at ₹233.22 crore, up 188 per cent as compared to ₹80.95 crore a year ago. Its revenue for the quarter stood at ₹622.27 crore as against ₹508.14 crore a year ago, up 22 per cent. The company's expenses stood at ₹444.63 crore as against ₹425.84 crore in the same period a year ago. During FY25, the company completed its initial public offering (IPO) comprising a fresh issuance of 92,63,29,669 equity shares with a face value of ₹10 each. These shares were offered at an issue price of ₹108 per share, which included 87,20,910 equity shares issued to eligible employees at a discounted rate of ₹103 per share. The company was listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on November 27, 2024, raising ₹10,000 crore through its initial public offering (IPO).