Green energy stock jumps after it signs MoU with Govt of Bihar for green hydrogen and renewable energy projectsGreen energy stock jumps after it signs MoU with Govt of Bihar for green hydrogen and renewable energy projects

Introduction:

Green energy company signed an MoU with Bihar’s Department of Industries at the “Bihar Business Connect 2024” Summit to advance renewable energy projects, including solar installations, energy storage systems, and green hydrogen initiatives, with government support.

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Share price movement of NTPC Green Energy:

On December 23, 2024, NTPC Green Energy Ltd opened at ₹136.20, up 3.15% from its previous close of ₹132.05. The stock reached a high of ₹137.10 (3.83%) and a low of ₹132.10. By 2:49 PM, it traded at ₹133.40, a 1.02% increase, with a market cap of ₹1,12,407.24 crore.

NGEL Signs MoU with Bihar Govt:

NTPC Green Energy Limited (NGEL) signed an MoU with Bihar’s Department of Industries at the “Bihar Business Connect 2024” Global Investors’ Summit in Patna. The agreement aims to boost renewable energy initiatives in the state.

The partnership focuses on ground-mounted and floating solar installations, battery energy storage systems, and green hydrogen mobility. The MoU was exchanged by Shri Alok Ranjan Ghosh, Director (Industries), and Shri Bimal Gopalachari, Addl. GM (Business Development), NGEL.

Bihar’s government will provide support for approvals and clearances to facilitate project development. This collaboration underscores NGEL’s commitment to enhancing green energy capacity and Bihar’s efforts to attract significant renewable energy investments.

Recent news on NTPC Green Energy:

As of December 19, 2024, NTPC Green Energy Ltd announced the commercial operation of a 30 MW capacity in its Gujarat Solar PV Project. This marks a significant milestone in the company’s renewable energy expansion efforts.

Stock performance of NTPC Green Energy for Period of 1 week:

NTPC Green Energy Ltd has faced a challenging week, with its stock declining by 7.10% over the past seven days. Despite short-term fluctuations, the company remains focused on expanding its renewable energy initiatives and market presence.

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Shareholding pattern of NTPC Green Energy:

All values in %	Nov 2024
Promoter	89.00%
FII	2.20%
DII	5.20%
Public	3.50%

About NTPC Green Energy:

NTPC Green Energy Ltd (NSE: NTPCGREEN), a subsidiary of NTPC Limited, focuses on renewable energy generation through solar, wind, and green molecules. Incorporated in 2022, it oversees 15 renewable assets with a 2,861 MW capacity.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.