State-owned NTPC Green Energy Ltd (NGEL) has emerged as the successful bidder in the e-reverse auction conducted by West Bengal State Electricity Distribution Company Ltd (WBSEDCL) for standalone Battery Energy Storage System (BESS) projects in West Bengal. According to reports from CNBC TV18, the company secured 200 MW/800 MWh of BESS capacity at a discovered tariff of ₹4.35 lakh per MW per month. The tender was floated for setting up a total of 500 MW/2,000 MWh of standalone BESS capacity in West Bengal through a Tariff-Based Competitive Bidding (TBCB) process, with the e-reverse auction concluded on August 7, 2026.
NTPC Green Energy reported strong financial results for the June quarter, with net profit rising 38.3% year-on-year. As reported by CNBC TV18, the company's revenue from operations increased 62.7% year-on-year to ₹1,106.9 crore during the quarter from ₹680.2 crore a year earlier. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) increased 63.8% to ₹988.7 crore, while EBITDA margin remained largely stable at 89.3%, compared with 88.7% in the corresponding quarter last year.
The company's board approved the incorporation of a wholly owned subsidiary or special purpose vehicle (SPV) for the development of renewable energy projects. According to CNBC TV18, the SPV will facilitate subsequent stake dilution for captive or group captive structuring for commercial and industrial sector customers, subject to necessary approvals. Additionally, the board gave in-principle approval to invest up to ₹28.78 lakh in AP NGEL Harit Amrit Ltd, a 50:50 joint venture between NTPC Green Energy and the New & Renewable Energy Development Corporation of Andhra Pradesh Ltd. The investment will increase NTPC Green Energy's holding in the joint venture to 51%, following which AP NGEL Harit Amrit will become a subsidiary of the company.
Shares of NTPC Green Energy Ltd ended at ₹91.50, up by ₹0.19, or 0.21%, on the BSE following the announcement. As reported by CNBC TV18, the positive market response reflects investor confidence in the company's strategic expansion in renewable energy storage and its strong quarterly financial performance.
