The National Thermal Power Corporation (NTPC)’s renewable energy arm, the NTPC Green Energy Limited has announced a major joint venture with a state entity. The NTPC Green announced the formation of a JV or a joint venture with the Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited or UPRVUNL.
NTPC Green-UPRVUNL JV
The renewable energy company announced this through an exchange filing on January 5.
In the statement, the company said, “It is hereby informed that “NTPC UP GREEN ENERGY LIMITED”, has been incorporated on 01.01.2025 as 51:49 joint venture of NTPC Green Energy Limited (NGEL) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). The certificate of incorporation issued by the Registrar of Companies was received on 04.01.2025.
In this JV, the central government-run company, NGEL will hold 51 per cent shares in the newly created company.
Through a letter dated 22.02.2024, the Ministry of Power (MOP), Government of India, approved the creation of a joint venture between NGEL and DIPAM and NITI Aayog.
In addition, the NTPC Green Energy also announced that it has subscribed to 51,000 equity shares (along with Nominees) at the face value of Rs 10 each.
When we look at the performance of the NTPC Green at the equity market, the company was only listed on November 27, 2024.
NTPC Green Shares
The company was listed at both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) at Rs 111.5, higher than its issue price of Rs 108. The Initial Public Offering or IPO was available between November 19 to November 22.
Although the company shares closed on Friday, January 3, in green with gains of 0.12 per cent or Rs 0.15, the overall week was weak. In the past five trading sessions at the exchanges, the NTPC Green shares declined by 2.47 per cent or Rs 3.24, taking the overall value of the company shares to Rs 128.10 per piece.
In addition to that, the shares have not had the best past month. In the past month of trade, the decline looks ever greater with a deficit of 9.21 per cent or Rs 13.00 per piece.
