PNC Infratech shares surged 5% in morning trade on July 17 after the company announced a significant win in the renewable energy space. As of 9:26 AM, the shares were trading 5.86% higher at Rs 329.50.
On July 16, the company said it had emerged as one of the lowest bidders (L1) for a major solar power project floated by NHPC Limited. The project involves setting up a 300 MW ISTS-connected solar plant along with a 150 MW / 600 MWh energy storage system (ESS), to be developed anywhere in India.
This contract was part of NHPC’s larger bid for 1,200 MW of solar capacity with storage, offered under the Tariff-Based Competitive Bidding route. PNC secured its allocation at a tariff of ₹3.13 per kilowatt-hour, following an online reverse auction held a day prior to the announcement.
The company will have 24 months from the signing of the Power Purchase Agreement to begin supply, and the agreement will run for a 25-year term. This development marks another key milestone for PNC in its renewable journey and signals its growing focus on clean energy projects. Investors responded positively, pushing the stock higher as the deal adds strength and visibility to its green energy portfolio.
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