NTPC Green Energy Declares Commercial Operation of 270 MW Khavda-II Solar Project

Recently, NTPC Renewal Energy Limited commissioned the third phase capacity of 270 MW out of the 1200 MW Khavda-II Solar PV Project located in Gujarat. The company declared the commercial operation of the unit effective from 00:00 hours on 11 March 2026.

After the commercial operation begins, the operation capacity of the NTPC will be significantly expanded. Thus, strengthening its position in the clean energy transition.

How Does The Commissioning Of 270 MW Impact NTPC Green Energy’s Capacity?

The addition of the 270 MW solar capacity has increased NTPC Green Energy’s renewable energy power generation capacity to around 9,562.68 MW, with commercial capacity estimated at 9,292.68 MW.

The NTPC has been expanding its energy portfolio across diverse renewable energy fields to support India’s clean energy goals. This is why Khavda development is considered strategically important, as it may contribute to the solar capacity.

NTPC Green Energy Quarterly Performance

NTPC Green Energy reported mixed financial results for the third quarter of FY2025-26 The company posted total income of ₹684.22 crore. This marks a 17.7% year-on-year and a 4.2% increase on quarter-on-quarter income.

However, profitability declined during the quarter.

• Net profit: ₹17.32 crore in Q3 FY26

• Net profit (Q3 FY25): ₹65.61 crore

• YoY decline: about 73%

• Net profit margin: 2.55%, down from 11.28% a year earlier

Expenses also increased significantly:

• Total expenses: ₹615.60 crore in Q3 FY26

• Q2 FY26 expenses: ₹550.97 crore

• Q3 FY25 expenses: ₹482.22 crore

Also Read - Why SEBI Closely Reviews Risk Disclosures In IPO Filings?

What Should Investors Do?

Investors should monitor for patterns like growing revenue but declining profit. These patterns generally indicate the company is planning to expand their operations. And if the growth of expenses supersedes the growth of revenue, it may lead to short-term earnings risks. Plus, investors should monitor margin recovery and expense growth in the next 2–3 quarters, as improvement here would signal the end of the heavy investment phase.

Sources

BSE

Investwise