Hot Pursuit     05-Mar-24
NTPC's renewable energy arm inks JV pact with Uttar Pradesh's thermal power utility
NTPC stated that its wholly owned subsidiary NTPC Green Energy has signed a joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL) for development of renewable power parks and projects in Uttar Pradesh.

“The RE power generated from the proposed JVC shall meet the Renewable Generation Obligation (RGO) of the UPRVUNL,” NTPC said in a statement.

NTPC is India's largest energy conglomerate. It has presence in the entire value chain of the power generation business. As on 31 December 2023, the Government of India holds 51.10% in NTPC.

The state-run power major’s consolidated net profit rose 7.3% to Rs 5,208.87 crore in Q3 FY24 as compared with Rs 4,854.36 crore recorded in Q3 FY23. Revenue from operations stood at Rs 42,820.38 crore in the December quarter, down 4% from Rs 44,601.84 crore posted in Q3 FY23.

The scrip rose 0.93% to currently trade at Rs 357.10 on the BSE.

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