NTPC Green Energy Limited (NGEL) shares rose over 2% after signing a Joint Venture Agreement (JVA) with Chhattisgarh State Power Generation Company Limited (CSPGCL) during the Chhattisgarh Energy Investors Summit in Raipur. As of 9:28 AM, the shares were trading 2.47% higher at Rs 97.46.
This strategic partnership aims to accelerate renewable energy development in Chhattisgarh and other locations, focusing on solar, wind, hybrid, and floating solar projects.
The newly formed joint venture company (JVC) will have NGEL holding a 74% stake, while CSPGCL will own 26%. With a total capacity of up to 2 GW, the JVC will develop, operate, and maintain renewable energy parks, including ultra-mega renewable energy power parks (UMREPPs). Additionally, the company will explore reservoirs for floating solar projects to further enhance clean energy initiatives.
NTPC Green Energy shares opened at ₹94.85, reaching a high of ₹97.65 and a low of ₹94.50. The stock’s 52-week high stands at ₹155.35, while the 52-week low is ₹84.55.
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