NTPC Green Energy NTPCGREEN
Solar Module Manufacturing (ALMM): NTPC's renewable arm - India's largest PSU solar and wind IPP (listed Nov 2024)
Mapped in 3 themes: Solar Module Manufacturing (ALMM), Energy Generation and Green Hydrogen Mission.
Where NTPC Green Energy sits in the supply chain
NTPC Green Energy appears in 5 supply-chain layers across 3 themes: Solar Module Manufacturing (ALMM), Energy Generation and Green Hydrogen Mission.
Solar Module Manufacturing (ALMM) › EPC & Project Developers
OwnerNTPC's renewable arm - India's largest PSU solar and wind IPP (listed Nov 2024)
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Energy Generation › Solar & Renewable IPPs
OwnerNTPC's renewable arm - India's largest PSU solar and wind IPP (listed Nov 2024)
Other companies in this layer
Energy Generation › Wind & Hybrid IPPs
OwnerNTPC's renewable arm - India's largest PSU solar and wind IPP (listed Nov 2024)
Other companies in this layer
Green Hydrogen Mission › Green hydrogen producers
OperatorNTPC's renewables arm; its subsidiary NTPC Renewable Energy holds green ammonia contracts and is developing the Pudimadaka green hydrogen hub in Andhra Pradesh
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Green Hydrogen Mission › Round-the-clock renewables
Direct supplierNTPC's renewables arm; its subsidiary NTPC Renewable Energy holds green ammonia contracts and is developing the Pudimadaka green hydrogen hub in Andhra Pradesh
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Revenue and profit
| ₹ Cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | — | 170 | 1,963 | 2,210 | 2,858 |
| Net profit | — | 171 | 343 | 474 | 521 |
Latest-year revenue ₹2,858 Cr (FY26, company-wide).
Note: years before its listing or not on Screener left blank.
Strengths · in Solar Module Manufacturing (ALMM)
- Backed by NTPC's balance sheet and offtake relationships, with one of the largest renewable pipelines in India
- Low cost of capital as a PSU subsidiary
Risks · in Solar Module Manufacturing (ALMM)
- Valuation rests on a pipeline many times its operating base - execution pace matters most
- PSU ownership limits how fast it can move on pricing and capital allocation
Common questions
What does NTPC Green Energy do?
In Solar Module Manufacturing (ALMM): NTPC's renewable arm - India's largest PSU solar and wind IPP (listed Nov 2024). NextResearch maps it in 3 supply chains: Solar Module Manufacturing (ALMM), Energy Generation and Green Hydrogen Mission.
Where does NTPC Green Energy sit in the supply chain?
NTPC Green Energy (NSE: NTPCGREEN) is mapped in 5 supply-chain layers: EPC & Project Developers (Solar Module Manufacturing (ALMM)), Solar & Renewable IPPs (Energy Generation), Wind & Hybrid IPPs (Energy Generation), Green hydrogen producers (Green Hydrogen Mission) and 1 more.
Who are NTPC Green Energy's peers?
In the EPC & Project Developers layer of Solar Module Manufacturing (ALMM): Sterling and Wilson Renewable Energy, KPI Green Energy, Adani Green Energy, Tata Power, Clean Max Enviro Energy Solutions, Juniper Green Energy and 4 more.
What is NTPC Green Energy's market cap and valuation?
As of 6 Nov 2026: market cap ₹69,577 Cr, P/E 106.0x, ROCE 3.6%, ROE 2.8%, dividend yield 0%.