NTPC Limited has successfully obtained waiver of regulatory fines totaling ₹31.03 lakh from BSE, providing significant relief from penalties imposed for non-compliance with SEBI listing regulations. The waiver addresses fines levied due to insufficient independent directors on the company's board across multiple quarters.

Fine Waiver Details

BSE communicated its approval for the fine waiver on 17th February 2026, covering violations across seven different SEBI LODR regulations. The waiver encompasses penalties imposed for non-compliance spanning from September 2021 to June 2025.

Background and Resolution Process

The fines were originally imposed due to the non-availability of requisite number of independent directors on NTPC's board, affecting the company's ability to maintain proper committee compositions and board meeting quorum as mandated by SEBI regulations. Following the appointment of independent directors by the President of India through the Ministry of Power, NTPC formally requested both BSE and NSE for waiver of the accumulated fines.

Automatic NSE Waiver Application

Under the circular dated 26th August 2025 issued by both BSE and NSE regarding 'Processing of waiver applications by the Exchanges in case of commonly listed entities', the waiver approved by BSE automatically extends to NSE as well. This unified approach eliminates the need for separate waiver processes across exchanges for commonly listed companies.

Regulatory Compliance

NTPC has disclosed this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company secretary and compliance officer, Ritu Arora, signed the formal communication to both exchanges on 18th February 2026, ensuring transparent disclosure to stakeholders about this significant regulatory development.

NTPC Limited's subsidiary NTPC Green Energy Limited (NGEL) has successfully commissioned an additional 125 MW solar capacity at its Bhadla Solar PV Project in Rajasthan. The commercial operation of this second part capacity commenced from 00:00 hrs of January 31, 2026, marking another significant milestone in the company's renewable energy expansion.

Project Details and Certification

The 125 MW capacity forms part of the larger 500 MW Bhadla Solar PV Project located in Phalodi, Rajasthan. The project is operated by NTPC Renewable Energy Limited, which is a wholly owned subsidiary of NTPC Green Energy Limited and a step-down subsidiary of NTPC Limited.

Impact on Group Capacity

The addition of this 125 MW solar capacity has strengthened NTPC's renewable energy portfolio significantly. Following this commissioning, the capacity metrics for both NTPC group and NTPC Green Energy Limited Group have been updated.

Regulatory Compliance

Both NTPC Limited and NTPC Green Energy Limited have made the necessary disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made by NGEL on February 3, 2026, and subsequently communicated by NTPC Limited to the stock exchanges on February 4, 2026.

The project represents NTPC's continued commitment to expanding its renewable energy footprint as part of India's clean energy transition. The Bhadla Solar Park in Rajasthan is one of the world's largest solar installations, and this capacity addition further strengthens the project's contribution to India's renewable energy goals.

Corporate Structure

The project ownership structure involves NTPC Renewable Energy Limited as the direct operator, which operates as a wholly owned subsidiary of NTPC Green Energy Limited. NGEL itself functions as a subsidiary of NTPC Limited, creating a clear corporate hierarchy for the renewable energy operations within the NTPC group.