State-owned NTPC Green Energy Ltd. (NGEL), a subsidiary of NTPC Ltd., said on Friday that the agreement with the Tuticorin-based port authority aims to promote green energy technologies, particularly green hydrogen mobility.
As part of the pact, NGEL will set up a hydrogen fueling station inside VOC Port and introduce hydrogen-based internal combustion engine trucks for cargo movement.
The initiative is expected to pave the way for replacing fossil-fuel-powered trucks with cleaner alternatives, which the company said would support decarbonisation efforts and strengthen energy security.
Broader hydrogen strategy
NTPC has been running a green hydrogen blending project in Surat, Gujarat, for over two years and has launched mobility pilots in Leh, Greater Noida, Bhubaneswar, and Kandla Port. NGEL is also developing a green hydrogen hub in Visakhapatnam, Andhra Pradesh, and has set a target of 60 GW renewable energy capacity by 2032.
Incorporated in April 2022 as NTPC’s renewable energy arm, NTPC Green Energy has absorbed all ongoing and under-construction renewable projects from the parent company.
Financial performance
The company’s consolidated net profit surged 59.1% year-on-year to Rs 220.48 crore in the June quarter, supported by a 17.6% rise in net sales to Rs 680.21 crore.On Friday, shares of NTPC Green Energy closed 0.64% higher at Rs 104.10 on the BSE.
Technical picture
From a technical perspective, the stock is trading below its 5-day, 50-day, 100-day, 150-day, and 200-day simple moving averages, but remains above its 10-day, 20-day, and 30-day averages.
The Relative Strength Index (RSI) stands at 49.6, indicating neutral momentum, while the Moving Average Convergence Divergence (MACD) is at -0.3, below the center line, suggesting a bearish undertone.
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