NTPC Renewable Energy (NTPC REL), a wholly owned subsidiary of NTPC Green Energy, has secured 500 megawatt (MW) of contracted capacity in the Solar Energy Corporation of India’s assured peak power tender, at a discovered tariff of Rs six per kilowatt hour (kWh). The e-reverse auction concluded on Friday, 21 August 2026, and the award forms part of a 6,000 megawatt hour (MWh) assured peak supply requirement. The company disclosed the outcome in an exchange filing under the tender titled SECI-FDRE-IX.

The tender called for selection of renewable energy developers for assured peak supply of 6,000 MWh, comprising 1,500 MW for four hours from inter-state transmission system connected renewable projects. NTPC REL secured 500 MW of the contracted capacity and will participate in the delivery schedule under the terms of the tariff-based competitive bidding. The award underscores the company’s focus on peak power solutions linked to grid stability.

In the first quarter ended June, NTPC Green Energy reported a 38.3 per cent year-on-year rise in net profit, driven by growth in revenue. Revenue from operations rose 62.7 per cent to Rs11.069 billion (bn) from Rs 6.802 billion a year earlier. Earnings before interest, taxes, depreciation and amortisation increased 63.8 per cent to Rs 9.887 bn and the EBITDA margin remained largely stable at 89.3 per cent compared with 88.7 per cent in the corresponding quarter.

The board approved the incorporation of a wholly owned subsidiary or special purpose vehicle to support renewable project development and to facilitate stake dilution for captive and group captive structuring, subject to approvals. It approved an investment of up to Rs 2.878 million (mn) in AP NGEL Harit Amrit Ltd to raise its holding to 51 per cent and convert it into a subsidiary upon statutory clearances. The board also approved steps to raise Rs 25 bn via ten-year non-convertible debentures, while the group recently commissioned 150 MW of solar capacity taking its fleet past 10.27 GW and shares closed at Rs 91.55, down by Rs 0.30, or zero point three three per cent on the BSE.