NTPC Green Energy 's wholly-owned subsidiary, NTPC Renewable Energy Limited (NTPC REL), has clinched a significant contract for the supply of green ammonia, marking a major step forward in India's push for sustainable energy solutions.

Contract Details

NTPC REL emerged victorious in an e-reverse auction conducted by the Solar Energy Corporation of India (SECI) on August 4, 2025. The company secured a contract to supply 70,000 metric tonnes per annum (MT/Year) of green ammonia to Krishana Phoschem Limited, located in Meghnagar, Madhya Pradesh. The winning bid was set at a competitive rate of Rs. 51.80 per kg.

Part of a Larger Initiative

This contract is a component of SECI's broader tender, which aims to secure a total of 7.24 lakh MT/Year of green ammonia across 13 locations in India. The successful bid by NTPC REL demonstrates the company's commitment to expanding its footprint in the renewable energy sector and contributing to India's green energy goals.

Company Background

NTPC Renewable Energy Limited is a subsidiary of NTPC Green Energy Limited, which in turn is a part of the larger NTPC Group.

Implications for the Industry

This development signifies a growing trend in India's energy sector towards cleaner and more sustainable fuel alternatives. Green ammonia, produced using renewable energy, is seen as a promising solution for reducing carbon emissions in various industries, including agriculture and energy storage.

The contract not only bolsters NTPC REL's position in the renewable energy market but also contributes to the nation's efforts in transitioning towards a low-carbon economy. As more such projects come online, they are expected to play a crucial role in India's energy mix and help in meeting the country's climate commitments.

Disclosure and Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, NTPC Green Energy Limited has duly informed the stock exchanges about this development. This transparency ensures that investors and stakeholders are kept abreast of significant business developments that may impact the company's performance and market position.

As the renewable energy sector in India continues to evolve, contracts like these underscore the growing importance of green technologies and sustainable practices in the country's energy landscape.

NTPC Green Energy Limited (NGEL) has reported full compliance with its Initial Public Offering (IPO) fund utilization for the quarter ended June 30, 2025, according to the latest monitoring agency report prepared by CARE Ratings Limited.

IPO Details and Fund Allocation

The company raised Rs. 10,000 crore through its IPO conducted from November 19-22, 2024. The funds were allocated for three main purposes:

1. Investment in subsidiary NTPC Renewable Energy Limited (NREL) for debt repayment: Rs. 7,500 crore
2. General corporate purposes: Rs. 2,446.49 crore
3. Issue expenses: Rs. 53.51 crore

Fund Utilization Status

As of June 30, 2025, NGEL has utilized Rs. 6,650 crore of the total proceeds, with Rs. 3,350 crore remaining unutilized. The breakdown of utilization is as follows:

Detailed Utilization of Funds

Investment in NREL

Out of the allocated Rs. 7,500 crore for investment in NREL for debt repayment, Rs. 4,150 crore has been utilized, with Rs. 3,350 crore remaining unutilized.

General Corporate Purposes

The company has fully utilized and slightly exceeded the allocated amount for general corporate purposes:

• Rs. 102.47 crore for interest servicing
• Rs. 2,352.86 crore for funding growth opportunities, including a joint venture with ONGC for Ayana Power acquisition

Issue Expenses

Of the Rs. 53.51 crore allocated for issue expenses, Rs. 44.67 crore has been utilized. The remaining Rs. 8.84 crore has been adjusted under general corporate purposes.

Unutilized Funds

The unutilized funds of Rs. 3,350 crore are currently parked in fixed deposits:

• Rs. 2,010 crore with PNB Bank (6.60% return)
• Rs. 1,340 crore with Yes Bank (6.71% return)

Both fixed deposits are set to mature on December 5, 2025.

Compliance and Monitoring

CARE Ratings Limited, the appointed monitoring agency, has reported no deviations from the disclosed objects of the IPO. The company's Audit Committee has reviewed and approved the fund utilization report, confirming that all utilization is in line with the offer document.

NTPC Green Energy Limited has also submitted a 'Nil' statement of deviation or variation for the quarter ended June 30, 2025, in accordance with SEBI regulations, further affirming its compliance with the stated objectives of the IPO.

The monitoring agency report and the company's statements indicate that NTPC Green Energy Limited is progressing as planned with its fund utilization, demonstrating transparency and adherence to regulatory requirements in its post-IPO financial management.