Shares of State-owned, NTPC Green Energy Ltd (NGEL), soared 2% on Friday, 10 October, after the company announced that its wholly owned subsidiary, NTPC Renewable Energy Ltd, has signed a Memorandum of Understanding (MoU) with the Gujarat government to build large-scale renewable energy projects in the state.

Under the MoU, NTPC Renewable Energy would create solar parks and projects with a combined capacity of 10 GW, as well as wind projects with a capacity of 5 GW, for a total renewable capacity of 15 GW in Gujarat. The MoU was signed on 9 October 2025, during the Vibrant Gujarat Regional Conference in Mehsana, Gujarat.

NTPC Green Energy’s net profit increased by 59% year on year in the April-June quarter of fiscal year 26. The company’s net profit increased to Rs 220 crore from Rs 138 crore the previous year, driven by increased revenue and consistent operational efficiency.

The revenue for the quarter increased by 17.6% to Rs 680 crore from Rs 578 crore in Q1FY25.  The topline rise was driven by increased capacity utilisation across operating assets and the launch of new renewable energy projects.

The company’s EBITDA increased 17.8% to Rs 603 crore from Rs 512 crore in the same period last year.  Despite rising expenses, NGEL maintained its profitability, with an EBITDA margin of 88.6%.

At 1:50 pm, the shares of NTPC Green Energy were trading 1.36% higher at Rs 99.51 on NSE.

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