NTPC Green wins Kerala battery storage auction under NHPC tender
NTPC Green Energy Ltd has emerged as the winning bidder for a major battery energy storage project in Kerala, securing a cumulative capacity of 80 megawatt (320 megawatt-hour) through an e-reverse auction conducted by NHPC Ltd.
The auction was part of NHPC’s larger tender for 125MW/500MWh of standalone battery energy storage systems connected to the Inter-State Transmission System, under a tariff-based competitive bidding model with viability gap funding. The NTPC subsidiary will develop two storage systems—each with 40MW/160MWh capacity—at Pothencode and Sreekantapuram substations. The awarded tariffs are ₹4,57,000 per MW/month and ₹4,34,000 per MW/month, respectively. While the company confirmed the win in a press release, the final letter of award from NHPC is still awaited. These projects are expected to significantly contribute to Kerala’s energy transition strategy by stabilising grid performance and supporting renewable energy integration. Battery energy storage systems (BESS) play a crucial role in managing peak load demand and enabling efficient use of intermittent solar and wind energy.
The announcement follows NTPC Green’s strong Q4 performance, which saw a threefold rise in net profit, driven by higher other income and margin expansion. On Thursday, shares of NTPC Green Energy Ltd rose 5.67% to ₹1,155.90 on the NSE, outperforming the Nifty benchmark, which declined 0.82%. Despite recent volatility, NTPC Green has gained 3.87% over the past 12 months, although the stock remains down 11.8% year-to-date. According to Bloomberg data, of the four analysts tracking the stock, three recommend a ‘buy’, while one maintains a ‘sell’ rating. The average 12-month target suggests a potential downside of 14.4% from current levels. As India ramps up its renewable energy goals, projects like these reinforce the role of state-led enterprises in building future-ready, clean infrastructure.
NTPC Green’s latest win strengthens its position in the national energy storage segment, which is projected to grow rapidly in the coming years.
