NTPC Green Energy Limited has informed the Exchange regarding a press release dated May 22, 2025, titled "NTPC Green Energy Limited Wins 80MW/320MWh Battery Energy Storage Project in Kerala".
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NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, has won a Battery Energy Storage System (BESS) project in Kerala through an e-reverse auction conducted by NHPC Limited on May 21, 2025. NGEL secured a cumulative capacity of 80MW/320MWh out of the 125MW/500MWh tender, split into two projects: 40MW/160MWh at Pothencode Substation (tariff: Rs 4,57,000/MW/month) and 40MW/160MWh at Sreekantapuram Substation (tariff: Rs 4,34,000/MW/month). The project falls under Tariff-Based Competitive Bidding (TBCB) with Viability Gap Funding (VGF) support from the government. The Letter of Award from NHPC is still awaited.
This is a positive development for NGEL as it strengthens its position in the energy storage segment and contributes meaningfully to its order book. The VGF-backed nature reduces execution risk, though the stock reaction may be muted until the formal Letter of Award is received.