Stockgram

NTPC Green Energy Ltd. announced on Thursday, May 22, that it has emerged as the winning bidder in the e-reverse auction conducted by NHPC Ltd. on Wednesday.





The demerged entity of state-run NTPC Ltd. has secured a cumulative capacity of 80 MW / 320 MWh under the competitive bidding process.





The auction was part of NHPC's tender for the selection of Battery Energy Storage System (BESS) developers to set up 125 MW / 500 MWh InSTS-connected standalone BESS in Kerala, under the Tariff-based competitive bidding (TBCB) with viability gap funding.





Under this initiative, NTPC Green has been awarded two key projects:





A 40 MW / 160 MWh at the Pothencode Substation at a tariff of ₹4.57 lakh per MW per month.





A 40 MW / 160 MWh at Sreekantapuram Substation at a tariff of ₹4.34 lakh per MW per month.





The company is awaiting the Letter of Award from NHPC, the statement stated further.





NTPC Green Energy reported its March quarter results during market hours on Wednesday, where its revenue went up by 22.5% to ₹622.3 crore, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew by 28.3%. EBITDA margin expanded by 400 basis points.





Shares of NTPC Green Energy ended 5.5% higher on Thursday, off the highs of the day, as at one point, the stock had traded with gains of 10%. Shares ended above their IPO price of ₹108, at ₹112.05.