NGEL's Remarkable Journey Performance of NTPC Green Energy Limited

  • NGEL's Remarkable Journey Performance of NTPC Green Energy Limited
  • During FY25, NGEL added 2,977 MW of renewable energy capacity, bringing its total commercial capacity to 5,902 as of March 31, 2025 - a steep increase from 2,925 MW a year earlier. 
  • NGEL's generation performance has been equally impressive, producing 6,828 million units in FY25, representing a growth of 20% from the 5,712 million units generated in the previous year. 
  • Despite some weather-related challenges, NGEL's stations delivered a commendable Capacity Utilization Factor of 24.07%. 
  • The financial metrics are equally robust. 
  • NGEL's total income for FY25 surged by 21% to ₹2,466 crore, compared to ₹2,038 crore in the last year. 
  • Total EBITDA also rose significantly by 19% in FY25 to ₹2,172 crore, compared to ₹1,819 crore in the previous financial year. 
  • NGEL’s operating EBITDA margin has improved to 90.04% in Q4 FY25 as compared to 85.96% in Q4 FY24, underscoring the robust profitability of renewable business.
  • Strategic Partnerships
    • NTPC Rajasthan Green Energy Limited (74:26 JV with RVUNL) to develop renewable parks and green hydrogen projects with up to 25 GW capacity. 
    • AP NGEL HARIT AMRIT LIMITED”, a 50:50 joint venture with New & Renewable Energy Development Corporation of Andhra Pradesh Limited to develop Renewable Energy Projects up to 25 GW capacities, PSP up to 10 GW capacity and green hydrogen projects. 
    • NTPC UP Green Energy Limited (51:49 JV with UPRVUNL) to establish renewable projects in Uttar Pradesh. 
    • MAHAGENCO NTPC Green Energy Private Limited (50:50 JV with MAHAGENCO) to focus on renewable parks in Maharashtra
    • ONGC NTPC Green Private Limited (ONGPL) (50:50 JV with ONGC Green Limited) to explore offshore wind and other renewable energy initiatives. It is pertinent to mention here that ONGPL has completed acquisition of 100% equity stake in Ayana Renewable Power Private Limited on March 27, 2025. Ayana, a leading renewable energy platform, has capacity of 4,112 MW (2123 MW of operational and 1,989 MW under-construction assets). Its portfolio is backed by high-credit-rated off-takers. 
    • “NTPC-MAHAPREIT GREEN ENERGY LIMITED”, 74:26 joint venture of NGEL and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) 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. 
    • JV Agreement (74:26) with CSPGCL (Chhattisgarh) for development of Renewable Energy Projects up to 2 GW capacities
    • MoU has been inked with MPPGCL for setting up of Projects comprising of Solar/Wind/Hybrid with or without storage up to 20 GW or more in Madhya Pradesh.      
  • Capital investment remains a strategic priority for NGEL. 
    • During FY25, NGEL incurred a consolidated CAPEX of ₹12,914 crore, substantially higher than the ₹8,996 crore spent in the previous year. 
    • NGEL’s growth-oriented approach has driven a 50% increase in total contracted and awarded capacity, which stands at 17,277 MW as at 31 March 2025, compared to 11,571 MW as at 31 March 2024. 
    • NGEL has secured several notable wins in TBCB (TariffBased Competitive Bidding) bids during FY25. 
      • NTPC Renewable Energy Limited achieved a significant milestone by securing 1,000 MW in a solar power auction held by Uttar Pradesh Power Corporation Limited at a competitive tariff of ₹2.56/kWh
      • Other notable achievements include securing 500 MW and 670 MW solar capacities in SECI and NHPC auctions, respectively, both featuring integrated energy storage solutions. 
      • In total, secured 2,570 MW of TBCB bids during the fiscal year. 

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