Hot Pursuit     29-Mar-23
NTPC's Renewables arm inks term sheet with Greenko ZeroC for supplying RE power
NTPC said that its wholly owned subsidiary NTPC Renewable Energy has signed term sheet with Greenko ZeroC to supply 1300 MW round the clock RE power for powering Greenko's upcoming Green Ammonia Plant at Kakinada, India.

Greenko ZeroC is a Greenko Group company.

Greenko is one of India's leading Renewable Energy companies, replacing fossil fuels with integrated decarbonized energy and grid assets enabling sustainable and affordable energy, with a net installed capacity of 7.5 GWdc across 15 States in India.

The agreement between the two companies is one of the world's single largest contract for supply of round-the-clock renewable supply for an industrial client.

NTPC is primarily involved in the generation and sale of bulk power to state power utilities. Other business of the group includes providing consultancy, project management & supervision, energy trading, oil & gas exploration and coal mining. The Government of India holds 51.10% stake in NTPC as of 31 December 2022.

The company consolidated net profit rose 6.18% to Rs 4,776.61 crore on 33.97% jump in revenue from operations to Rs 44,601.84 crore in Q3 FY23 over Q3 FY22.

The scrip shed 0.03% to currently trade at Rs 171.90 on the BSE.

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