PNC Infratech Bags ₹1,402 Crore NTPC Solar Project

19 Aug 2025 , 10:14 AM

PNC Infratech Ltd has announced that it received a Letter of Award (LoA) from NTPC Ltd for the development of a 300 MW ISTS-connected solar power project. The plan also includes an integrated 150 MW/600 MWh energy storage system (ESS).

The award came through a tariff-based competitive bidding round, followed by an electronic reverse auction. The LoA was issued on August 14, 2025, reaffirming the company’s earlier disclosure on July 16, 2025.

As per the agreement, the project is expected to start supply within 24 months from the effective date of the Power Purchase Agreement (PPA). The PPA will run for 25 years from the date of commencement.

The tariff for the project has been set at ₹3.13 per unit (kWh). NTPC awarded the contract as part of its renewable energy capacity expansion programme, acting as the implementing agency and intermediary procurer.

On the financial front, PNC Infratech reported a decline in performance for the June quarter of FY26. Its consolidated net profit dropped to ₹431 crore. This is compared with ₹575 crore in the same period last year.

Revenue for Q1 FY26 came in at ₹1,423 crore. This is down from ₹2,168 crore a year earlier. The company also announced September 22, 2025, as the record date for identifying eligible shareholders for the final dividend for FY25. The final dividend will be subject to shareholder approval at the company’s 26th Annual General Meeting (AGM), scheduled for September 29, 2025.

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