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A Memorandum of Understanding (MoU) between NTPC Green Energy (NGEL) and Honeywell UOP India (UOP) was exchanged between Sh. D M R Panda, Executive Director (Hydrogen), NTPC and Mr. Ranjit Kulkarni, VP & GM (ESS), Honeywell UOP on 25 April 2025.
The collaboration aims to explore the production of sustainable aviation fuel (SAF) by conducting feasibility study that leverages Honeywell's proprietary eFining™ technology and carbon dioxide (CO2) emissions captured from NTPC's power plants and green hydrogen.
This MoU aims to collaborate on Sustainable Aviation Fuel (SAF) production, which is a significant component of NTPC Green's ambitious Green Hydrogen Hub in Pudimadaka, Andhra Pradesh. The collaboration combines Honeywell UOP's expertise in Sustainable Aviation Fuel (SAF) production with NTPC's endeavours in developing green hydrogen projects. SAF production is a key component of this ambitious Green Hydrogen Hub, which spans approximately 1,200 acres and is designed to serve as an integrated hub for green chemicals and sustainable manufacturing.
As part of this contract, Suzlon will supply 120 S144 Wind Turbine Generators (WTG) with Hybrid Lattice Towers (HLT) each with a rated capacity of 3.15 MW, and also undertake foundation, erection, and commissioning for the project and will provide maintenance and services.
Girish Tanti, Vice Chairman, Suzlon Group, said, 'We are honored to be a strategic partner in NTPC's ambitious vision to accelerate Indiafs clean energy transition. As NGEL aims to expand its renewable energy portfolio to 60 GW by 2032, this partnership lays a crucial foundation for showcasing the key role of wind in powering Indiafs largest PSU's renewable journey by providing high]quality, affordable power. From our first project in Gujarat to expanding into Karnataka, our shared commitment to advancing Indiafs leadership in the global clean energy movement continues.'
IT shares tumbled after advancing in the past trading session.
At 10:30 IST, the barometer index, the S&P BSE Sensex, fell 295.49 points or 0.40% to 73,933.57. The Nifty 50 index lost 114.35 points or 0.51% to 22,421.50.
In the broader market, the S&P BSE Mid-Cap index slipped 1.42% and the S&P BSE Small-Cap index declined 1.49%.
The market breadth was weak. On the BSE, 988 shares rose and 2,357 shares fell. A total of 215 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 3.84% to 21.23.
Economy:
In India, growth is projected to accelerate to 6.7% in fiscal year (FY) 2025 and 6.8% in FY2026, according to the latest forecast by the Asian Development Bank (ADB). Growth in the sub-region is expected to rise from 5.8% in 2024 to 6.0% in 2025 and 6.2% in 2026.
Inflation in India is projected to moderate to 4.3% in FY2025 and 4.0% in FY2026, supported by easing food and global oil prices.
Buzzing Index:
The Nifty IT index dropped 2.87% to 32,291.65. The index jumped 1.76% in the past trading session.
Wipro (down 4.65%), Coforge (down 4.02%), Mphasis (down 4.01%), Persistent Systems (down 3.62%), LTIMindtree (down 3.37%), Tech Mahindra (down 3.3%), Infosys (down 2.59%), Oracle Financial Services Software (down 2.43%), HCL Technologies (down 2.31%) and Tata Consultancy Services (down 1.48%) declined.
Stocks in Spotlight:
Hindustan Aeronautics (HAL) declined 1.54%. The company has announced that the Ministry of Defence (MoD) has approved the appointment of DK Sunil as chairperson and managing director (MD), effective from 9 April 2025.
NTPC Green Energy lost 0.31%. The company has incorporated NTPC-Mahapreit Green Energy as a 74:26 joint venture of the company. This has been done along with the inclusion of Mahatma Phule Renewable Energy and Infrastructure Technology.
Concord Biotech shed 0.01%. The company received approval from the USFDA for marketing 7 mg and 14 mg Teriflunomide Tablets. Teriflunomide tablets are used for treating patients with relapsing forms of multiple sclerosis.
The new company will focus on developing, operating, and maintaining renewable energy parks across India.
The joint venture, formalised 8 April 2025, is structured with NGEL holding a 74% stake and MAHAPREIT owning the remaining 26%.
The entity will focus on developing ultra mega renewable energy power parks (UMREPP) and other solar, wind, and hybrid projects, with or without storage, totaling up to 10 GW in capacity. The project will initially focus on Maharashtra but may expand to other states.
According to a regulatory filing, the incorporation was approved by the Ministry of Power after obtaining concurrence from DIPAM and NITI Aayog. NGEL has subscribed to 74,000 equity shares at a face value of Rs 10 each.
Further, the company has commissioned a 90 MW unit of Dayapar Wind Energy Project Phase I in Gujarat.
The second part, with a capacity of 90 MW out of 150 MW, of the Dayapar Wind Energy Project Phase I of NTPC Renewable Energy Limited at Bhuj, under the 450 MW Hybrid Project, is declared to be on commercial operation, effective from 9 April 2025, it added.
The first part, with a capacity of 50 MW, has already been declared in commercial operation, effective from 4 November 2023.
NTPC Green Energy (NGEL), promoted by ‘Maharatna’ central public sector enterprise NTPC, is the largest renewable energy (excluding hydro) public sector enterprise in terms of operating capacity.
The company reported an 18% jump in consolidated net profit to Rs 65.61 crore in Q3 FY25 as against Rs 55.61 crore posted in Q3 FY24. Revenue from operations grew by 13.2% YoY to Rs 505.08 crore in the quarter ended 31 December 2024.
Shares of NTPC Green Energy shed 0.99% to Rs 95.45 on the BSE.
Power Grid Corporation of India Ltd rose 1.77% today to trade at Rs 293.9. The BSE Utilities index is up 0.43% to quote at 5172.84. The index is up 6.17 % over last one month. Among the other constituents of the index, NTPC Green Energy Ltd increased 0.47% and Torrent Power Ltd added 0.43% on the day. The BSE Utilities index went down 11.44 % over last one year compared to the 1.05% fall in benchmark SENSEX.
Power Grid Corporation of India Ltd has added 8.29% over last one month compared to 6.17% gain in BSE Utilities index and 0.29% drop in the SENSEX. On the BSE, 15416 shares were traded in the counter so far compared with average daily volumes of 3.68 lakh shares in the past one month. The stock hit a record high of Rs 366.2 on 25 Sep 2024. The stock hit a 52-week low of Rs 247.5 on 28 Feb 2025.
NTPC-MAHAPREIT Green Energy will be engaged in the business of developing, operating and maintaining Renewable Energy Parks including UMREPP/ RE Projects comprising of Solar/Wind/Hybrid with or without Storage up to 10 GW capacities in Maharashtra and any other state in India.