NTPC and NRL to build strategic partnership for Green Chemicals & Green Projects

Mumbai, 31th January, 2024: NTPC Limited, India’s largest integrated power utility, today signed a non-binding MoU with Numaligarh Refinery Limited (NRL), a subsidiary of Oil India Ltd engaged in the business of Refining and Marketing of petroleum products, for partnership opportunities in the proposed bamboo-based Bio-Refinery at NTPC Bongaigaon and other Green projects.

PIC- NTPC and NRL Partnership

The two CPSEs, through this MoU, intend to enhance their footprint in green chemicals and foray into sustainable solutions to advance the efforts towards achieving the nation’s Net-Zero targets and be partner in development of North-East Region.

The MoU was signed in the august presence of Shri Gurdeep Singh, CMD NTPC, Dr Ranjit Rath, CMD OIL & Chairman NRL, and Shri Bhaskar Jyoti Phukan, MD NRL.

NTPC is committed to achieve 60 GW of Renewable Energy capacity by 2032 and be a major player in Green Hydrogen and Energy Storage domain. The company is taking up several initiatives towards decarbonization such as Green Hydrogen, Biofuels, Carbon Capture & Hydrogen Mobility.

NTPC – 9M FY24 Unaudited Results

The Country’s largest power generator – NTPC Ltd., with a present group installed capacity of almost 74 GW, declared unaudited financial results for third Quarter and Nine Months ending 31 December 2023.

NTPC Group generated 315 Billion Units in 9M FY24 as compared to 295 Billion Units in 9MFY23. NTPC’s standalone gross generation in 9MFY24 is 268 Billion Units as compared to 255 Billion Units in the corresponding previous period.

NTPC Coal stations achieved a Plant Load Factor of 76.40% as against the National Average of 68.51 % during 9M FY24.

On standalone basis, the Total Income of NTPC for 9M FY24 is ₹ 1,21,486 crore as against the corresponding previous period total income of ₹ 1,24,685 crore. Profit After Tax (PAT) for 9MFY24 is ₹ 12,523 crore as against ₹ 11,524 crore in the corresponding previous period, registering an increase of 8.67%.

On consolidated basis, the Total Income of the group for 9M FY24 is ₹ 1,32,349 crore as against the corresponding previous period total income of ₹ 1,33,231 crore. Profit After Tax (PAT) of the group for 9MFY24 is ₹ 14,842 crore as against ₹ 12,250 crore in the corresponding previous period, registering an increase of 21.16%.

The Board of Directors has approved Second interim dividend for FY24 @ 22.5% of paid-up share capital i.e. ₹2.25 per equity share of face value of ₹10/- each.