Project Commissioning / Capacity Addition

NTPC Green Energy Declares Commercial Operation of Final 105 MW Capacity at Khavda-II Solar Project

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NTPC Green Energy Limited announced the declaration of commercial operation for the eighth and final 105 MW capacity of the 1,200 MW Khavda-II Solar PV Project located in Gujarat. Following the commissioning, the total installed capacity of NTPC Green Energy Group has increased to 10,621.40 MW effective May 28, 2026.

PRICE-SENSITIVE TRIGGER

Event: Declaration of Commercial Operation of Solar Capacity

Type: Project Commissioning / Capacity Addition

Impact: Positive

Immediate Effect: The company has completed and commercially operationalized the final 105 MW phase of the Khavda-II Solar PV Project, resulting in an increase in the group’s renewable energy installed capacity.

Key Metrics:

Final Capacity Commissioned: 105 MW
Total Project Capacity: 1,200 MW
Project Location: Gujarat
Current Commercial Capacity Before Addition: 10,516.40 MW
Revised Installed Capacity Post Addition: 10,621.40 MW
Commercial Operation Effective Date: May 28, 2026

Highlight:

NTPC Green Energy has fully completed the 1,200 MW Khavda-II Solar PV Project with commissioning of the final 105 MW phase.

What Happened ?

NTPC Green Energy Limited informed stock exchanges that the eighth and final part capacity of 105 MW under the 1,200 MW Khavda-II Solar PV Project in Gujarat has been declared commercially operational.

The project is being executed through NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Green Energy Limited.

The company stated that the commercial operation became effective from 00:00 hours on May 28, 2026.

Following the commissioning of the final capacity block, the total installed capacity of NTPC Green Energy Limited Group increased from 10,516.40 MW to 10,621.40 MW.

The development marks completion of the Khavda-II Solar PV Project and further strengthens NTPC Green Energy’s renewable energy generation portfolio.

Key Details

Khavda-II Solar Project Commissioning Details:

Commercial operation declared for final 105 MW capacity block.
Capacity forms part of the 1,200 MW Khavda-II Solar PV Project.
Project located in Gujarat.
Commercial operation effective from May 28, 2026.
Project executed through NTPC Renewable Energy Limited.
NTPC Renewable Energy Limited is a wholly owned subsidiary of NTPC Green Energy Limited.
Total installed capacity of NTPC Green Energy Group increased to 10,621.40 MW.
The 105 MW block represents the eighth and final phase of the project.
Commissioning strengthens the company’s renewable generation footprint.

Note:

Completion of the Khavda-II Solar PV Project supports NTPC Green Energy’s long-term renewable energy expansion strategy and enhances utility-scale solar generation capacity.

Risk Analysis

Summary:

Although project commissioning improves renewable energy capacity and operational scale, generation efficiency, grid integration, and execution of future renewable projects remain important operational variables.

Key Risks:

Renewable energy generation remains dependent on solar irradiation conditions.
Large-scale renewable integration requires stable transmission infrastructure.
Future project execution timelines may influence growth targets.
Regulatory and tariff changes could impact long-term project economics.
Renewable capacity expansion involves continued capital expenditure requirements.

Worst Case Scenario:

If generation efficiency, evacuation infrastructure, or renewable tariff economics weaken materially, expected returns from newly commissioned projects could moderate.

Risk Level: Low

Company Commentary

NTPC Green Energy stated that the eighth and final 105 MW capacity under the Khavda-II Solar PV Project has been declared commercially operational.
The company confirmed the commercial operation date as May 28, 2026.
Management stated that the group’s total installed capacity increased to 10,621.40 MW after the addition.
The project has been implemented through wholly owned subsidiary NTPC Renewable Energy Limited.

Official Exchange Filing: NTPC Green Energy Limited