NTPC Green Energy subsidiary signs MoU with Gujarat govt to develop 15 GW renewable projects

State-owned NTPC Green Energy Ltd (NGEL) on Thursday (October 9) said its wholly owned subsidiary NTPC Renewable Energy Ltd has signed a Memorandum of Understanding (MoU) with the Government of Gujarat for the development of large-scale renewable energy projects in the state.Under the MoU, NTPC REL will develop solar parks and projects with a cumulative capacity of 10 GW and wind projects with a capacity of 5 GW projects, aggregating to a total renewable capacity of 15 GW in Gujarat. The MoU was exchanged on October 9, 2025, during the Vibrant Gujarat Regional Conference held at Mehsana, Gujarat.

First Quarter ResultsNTPC Green Energy reported a 59% year-on-year jump in its net profit for the April–June quarter of FY26. Net profit rose to ₹220 crore from ₹138 crore a year earlier, backed by higher generation and a steady operational performance.

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Revenue for the quarter came in at ₹680 crore, marking a 17.6% increase compared to ₹578 crore in Q1FY25. The topline growth was driven by improved capacity utilisation across operational assets and the commissioning of new renewable energy projects.The company’s EBITDA stood at ₹603 crore, up 17.8% from ₹512 crore in the same period last year. Despite the rise in expenses, NGEL maintained stable profitability with EBITDA margin flat at 88.6%.

Shares of NTPC Green Energy Ltd ended at ₹98.05, down by ₹0.50, or 0.51%, on the BSE.

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