NTPC Green Energy Ltd (NGEL), the renewable energy arm of NTPC, announced on Thursday, August 21, that it has commissioned fresh capacity of 49.1 MW at its 300 MW Khavda solar energy project in Bhuj, Gujarat. This marks the third phase of the project, with the new capacity declared commercially operational from midnight of August 22, 2025, under the 450 MW hybrid tranche V project.

Project Development Timeline

The latest commissioning follows a systematic rollout of the Khavda solar project across multiple phases. The first phase of 142.2 MW was commissioned on June 28, 2025, followed by the second phase of 32.8 MW on June 30, 2025. With the addition of the third phase's 49.1 MW capacity, the project continues its phased implementation toward the total 300 MW target capacity.

The Khavda solar energy project is part of NTPC Green Energy's broader renewable energy portfolio and represents a significant component of the company's expansion in Gujarat's renewable energy sector.

Strong Financial Performance

NTPC Green Energy reported robust financial results for the April-June quarter of FY26. The company achieved a net profit of INR 220 crore, representing a substantial 59% year-on-year increase from INR 138 crore in the same period of the previous year. Revenue for the quarter reached INR 680 crore, marking a 17.6% increase compared to INR 578 crore in Q1FY25.

Stock Market Performance

On Thursday, August 21, shares of NTPC Green Energy ended in negative territory. The stock closed at INR 103.52 per share, declining from its opening price of INR 105.18. This represented a decrease during the trading session despite the positive operational news regarding the Khavda project commissioning. The stock performance occurred on the same day the company announced the commissioning of the third phase of its Gujarat solar project, indicating that market sentiment may have been influenced by broader market conditions or other factors beyond the immediate operational development.

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