Latest news with #LoA
New Indian Express
19 hours ago
- Business
- New Indian Express
NLCIL to develop 450 MW wind-solar hybrid project
CUDDALORE: Neyveli Lignite Corporation India Limited (NLCIL) has received a Letter of Award (LoA) from the National Thermal Power Corporation Limited (NTPC) for developing a 450 MW Inter-State Transmission System (ISTS) connected Wind-Solar Hybrid Power Project. In a press statement released on Tuesday, NLCIL said the LoA is part of NTPC's initiative to procure 1200 MW of hybrid power under a Tariff-Based Competitive Bidding process, with a provision to extend it by an additional 600 MW under the Greenshoe option. 'NLCIL has emerged successful in securing 450 MW contracted capacity, reaffirming its growing role in India's renewable energy transition,' the statement said. The project is designed to deliver a minimum annual Capacity Utilization Factor (CUF) of 30%. It aims to integrate renewable resources while maintaining grid stability and reliability.
Business Standard
3 days ago
- Business
- Business Standard
NLC India gains after LoA from NTPC for 450 MW hybrid power project
NLC India rose 1.25% to Rs 231.35 after the company received a Letter of Award (LoA) from NTPC to develop a 450 MW interstate transmission system (ISTS)-connected wind-solar hybrid power project. Under the agreement, NLC will supply hybrid power to NTPC for a period of 25 years under a power purchase agreement (PPA). The project will be developed across two locations: 300 MW in Bikaner, Rajasthan, and 150 MW in Bhuj, Gujarat. The hybrid power supply is expected to commence within 24 months from the effective date of the PPA, the company said. NLC clarified that the order does not fall under related-party transactions and that neither its promoter group nor NTPC holds any cross-shareholding interests. NLC India is a 'Navratna' government of India company engaged in lignite mining and power generation. As of 31 March 2025, the Government of India held a 72.20% stake in the company. The public sector undertaking's consolidated net profit zoomed 321.83% to Rs 481.96 crore on an 8.34% increase in revenue from operations to Rs 3,836 crore in Q4 FY25 over Q4 FY24.
Mint
3 days ago
- Business
- Mint
Stocks to watch: Tata Steel, Torrent Pharma, HAL, BHEL, NLC India among shares in focus today
Tata Steel announced on Sunday that it has received a show-cause-cum-demand notice from the tax authorities regarding the alleged wrongful utilization of input tax credit exceeding ₹ 1,000 crore for the financial years 2018-19 to 2022-23. Waaree Solar Americas, a subsidiary of the company, has received a major order to supply 540 MW of solar modules from a U.S.-based developer specializing in utility-scale solar and energy storage projects. The board of the state-run Mazagon Dock has given the green light to acquire a majority stake in Colombo Dockyard PLC, a shipbuilding company listed in Sri Lanka, for $52.96 million (approximately ₹ 452 crore). Torrent Pharma, the leading company of the Torrent Group, announced on Sunday that it will acquire a controlling 46.39% stake in JB Chemicals and Pharmaceuticals from the global investment firm KKR. Post Graduate Institute of Medical Education and Research (PGIMER) is currently considering a proposal to hand over the management of its hospital canteens to the Indian Railway Catering and Tourism Corporation (IRCTC). BHEL received a fresh order from Adani Power on June 27 to supply critical equipment and supervise operations for six major thermal power units, each with a capacity of 800 MW. Government-owned aerospace and defence giant Hindustan Aeronautics Ltd (HAL) has proposed a final dividend of ₹ 15 per equity share for the financial year 2024–25. NLC India announced that it has received a Letter of Award (LoA) from NTPC Ltd for the development of a 450 MW wind-solar hybrid power project connected to the interstate transmission system (ISTS). The U.S. Securities and Exchange Commission (SEC) has submitted a status report to a federal court in New York, outlining its continued attempts to deliver legal documents to billionaire Gautam Adani and his nephew Sagar Adani as part of a civil securities lawsuit initiated last year. India's leading paint manufacturer has declared the acquisition of the remaining 40% equity stake in Obgenix Software Private Limited, the company behind the 'White Teak' brand, for a cash payment of ₹ 188 crore. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
4 days ago
- Business
- Time of India
NLC India secures 450 MW wind-solar hybrid project from NTPC
NLC India Ltd (NLCIL) announced that it has received a Letter of Award (LoA) from NTPC Ltd for the establishment of a 450 MW Inter-State Transmission System (ISTS) connected wind-solar hybrid power project. Under the terms of the LoA, NLC India will be responsible for setting up the 450 MW ISTS-connected wind-solar hybrid power project and supplying the generated power to NTPC Ltd for a period of 25 years under a Power Purchase Agreement (PPA). The project will be strategically developed in two key locations: 300 MW will be established in Bikaner, Rajasthan, and the remaining 150 MW in Bhuj, Gujarat. According to the company's statement, the scheduled commencement of power supply from the full project is slated to occur within 24 months from the effective date of the PPA. This collaboration between NLC India and NTPC Ltd marks a crucial step towards expanding renewable energy capacity in India, leveraging both wind and solar resources to provide a consistent and reliable power supply.
Mint
5 days ago
- Business
- Mint
BHEL shares to be in focus on Monday after bagging ₹6,500 crore order from Adani Power
Shares of PSU stock Bharat Heavy Electricals Limited (BHEL) will remain in focus on Monday following a ₹ 6,500 crore order win from Adani Power, an Adani Group company, on Friday, June 27. BHEL, in an exchange filing post-market hours today, said that it has received a Letter of Award (LoA) from Adani Power for six thermal units of 800 MW. The nature of the award involves the supply of equipment – a steam turbine generator along with auxiliaries, and supervision of erection & commissioning, BHEL informed via the exchange filing. The broad consideration or size of the order is around ₹ 6,500 crore, excluding GST, the PSU company added. The recent order win adds to BHEL's project pipeline, which rose to its highest level in fiscal year 2024-25 (FY25). The company secured its highest-ever order inflows during the year, amounting to ₹ 92,534 crore, a company statement said in April. The company also posted a 19% on-year growth in revenue at ₹ 27,350 crore for the fiscal year 2024-25. The company stated that in the power sector, BHEL maintained its leadership by winning orders worth ₹ 81,349 crore. The industrial segment recorded fresh orders worth ₹ 11,185 crore, reflecting the company's diversified presence across sectors such as transportation, defence, process industries, and industrial equipment, it stated. With double-digit revenue growth, a record order book, and a healthy execution pipeline, BHEL entered FY 2025–26 with strong momentum, it stated, as per a PTI report. BHEL shares, though down 11% in the last one year, have rallied 13% on a year-to-date basis. In the past three months, BHEL stock has seen a sharp rally of 23% while the scrip is up 1.4% in the past one month. On a longer time frame, BHEL has emerged as a multibagger stock, rising 213% in two years, 475% in three years and 616% in five years.
