NTPC shares rise 5% as it begins commercial operation of Jetsar solar project

• With the commissioning of the 80 MW capacity, only one more unit of equivalent capacity remains to be commissioned
• The installed as well as commercial capacity of NTPC and NTPC group has become 53,572.5 megawatt and 66,997.5 megawatt respectively

New Delhi: State-run NTPC Ltd's shares rose nearly 5 percent in intraday trade on Tuesday after it announced 80 MW capacity of its 160 MW Jetsar Solar PV Project in Rajasthan commercially operational. In a regulatory filing to the stock exchanges, NTPC said, "In line with the Corporate Disclosure requirements, consequent upon successful commissioning and due approvals, first part capacity of 80 MW of 160 MW Jetsar Solar PV Project at Rajasthan, is declared on Commercial Operation w.e.f. 22.10.2021."

Jetsar solar PV project

NTPC had invited bids for the 160 MW solar project in Jetsar, Rajasthan, in June 2019. The tender allowed for the procurement of solar modules that are not manufactured in India. With the commissioning of the 80 MW capacity, only one more unit of equivalent capacity remains to be commissioned. The installed as well as commercial capacity of NTPC and NTPC group has become 53,572.5 megawatt and 66,997.5 megawatt respectively, NTPC said in the regulatory filing.

Backdrop

Last week, NTPC announced its Q2 FY22 results. On a standalone basis, NTPC's net profit dipped 8.35 percent to Rs 3,212 crore from Rs 3,505 crore during the corresponding quarter of the previous financial year. NTPC's revenue from operations advanced 15 percent to Rs 28,329 crore versus Rs 24,677 crore in the year ago period. NTPC shares opened at Rs 135.20 apiece in the morning on Tuesday and touched a high of Rs 140 during the day.

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