Rs 897 Crore Mega Deal Between These Two Listed Firms - Details Inside

Gensol Engineering has been awarded a notable contract worth Rs 897 crore by NTPC Renewable Energy Limited (NTPC REL) to develop a 225 MW grid-connected solar project.

This project will be established at the GSECL Solar Park (Stage-III), located in Khavda, in the Rann of Kutch, Gujarat.

The contract, which was finalised last week, outlines the development of solar power infrastructure in an EPC (Engineering, Procurement, and Construction) mode. The 225 MW solar project will be converted to an AC (Alternating Current) capacity of 225 MW, equivalent to 276 MW DC (Direct Current).

Additionally, the contract includes a three-year Operations and Maintenance (O&M) service period. The total value of the project, which accounts for taxes and duties, is approximately Rs 897.47 crore.

This collaboration is part of NTPC REL’s ongoing efforts to expand its renewable energy footprint.

Recently, NTPC has also initiated several other projects focused on sustainability and clean energy. Among its notable ventures is the pilot Anion Exchange Membrane (AEM) based Hydrogen Generation Plant at NTPC Dadri, which was commissioned in November 2023.

NTPC's broader goals include scaling up renewable energy capabilities, with the company aiming to achieve a 50% non-fossil fuel-based capacity by 2032.

Furthermore, NTPC has been expanding its focus on green hydrogen, battery storage, and nuclear energy. Their efforts also include significant environmental initiatives such as biomass co-firing in thermal plants, aimed at reducing carbon footprints and mitigating pollution.