PNC Infratech wins NTPC bid for 300 MW solar project; details here

PNC Infratech Ltd on Friday announced that it has received a Letter of Award (LoA) from NTPC Ltd for setting up a 300 MW Inter-State Transmission System (ISTS) connected solar power project, integrated with a 150 MW/600 MWh energy storage system (ESS).

The project was awarded under the tariff-based competitive bidding process and secured through an electronic reverse auction mechanism. The LoA, dated August 14, 2025, follows the company’s earlier announcement on July 16, 2025.

According to the company, the project is scheduled to commence supply within 24 months from the effective date of the Power Purchase Agreement (PPA), and the PPA will be valid for 25 years from the start of supply.

The tariff for the project has been fixed at Rs 3.13 per kilowatt-hour (kWh). NTPC, acting as the intermediary procurer and renewable energy implementing agency, awarded the contract as part of its renewable energy expansion plans.

On the earnings front, the company's consolidated profit slipped to Rs 431 crore in the April-June 2025 quarter (Q1 FY26) from Rs 575 crore in the corresponding period last year. During the quarter under review, revenue declined to Rs 1,423 crore as against Rs 2,168 crore in the year-ago period.

Additionally, PNC Infratech has set September 22, 2025, as the record date to determine the entitlement of members for the final dividend for the financial year ended March 31, 2025.

The payment of the final dividend, as recommended by the Board of Directors, is subject to the approval of shareholders at the upcoming 26th Annual General Meeting scheduled for September 29, 2025.

Meanwhile, shares of PNC Infratech ended 0.74 per cent lower at Rs 307.90 on Thursday, while Indian equity markets remained closed today on account of Independence Day.