PhonePe Announces Exciting Cashback Offers On 24K Digital Gold For Dhanteras And Diwali

* Offers up to INR 3000 Guaranteed Cashback* on 24K Gold from November 9th - 12th

PhonePe, today, announced exciting cashback offers on 24K Gold for the festive season of Dhanteras and Diwali 2023. Customers purchasing a minimum of INR 1000 worth of digital gold from PhonePe, can avail up to INR 3000 Guaranteed Cashback*. This offer is valid for all one-time transactions (once per user) from November 9th - 12th, 2023.

Over 1 Crore customers from 19,000+ postal codes in India have bought high purity 24K gold on the PhonePe platform at transparent prices. This is because PhonePe is the leading digital payments platform that offers 99.99% purity-certified 24K Digital Gold from leading and trusted partners. Customers can purchase certified 24K Gold digitally with zero making charges, and can benefit from using insured bank-grade Gold lockers for free* storage. Some other benefits of buying Digital Gold on PhonePe include the convenience of shopping from the comfort of home 24*7. Customers can also choose to       sell their stored Gold anytime, with the money credited to their bank accounts within 48 hours. Customers also have the flexibility to invest in Digital Gold for any amount of their choice. Apart from one-time purchases, PhonePe also empowers every Indian to invest in Gold digitally via SIP to help customers invest long-term systematically.

*This offer is valid for all one-time transactions on PhonePe (once per user) while purchasing digital gold worth a minimum of INR 1000 from November 9th - 12th, 2023.

*The bank-grade Gold lockers are free for 5 years.

Here is a step-by-step guide to avail this special cashback offer while buying Gold on PhonePe:

Step 1: Tap ‘Wealth’ on the bottom strip of your PhonePe app homepage

Step 2: Select ‘Gold’ on the Wealth screen

Step 3:  Select "Buy One Time”

Step 4:  Proceed by selecting “Buy in rupees” and adding a minimum INR 1000 worth of 24K Gold

Step 5: Check the final details of your Gold purchase and click on ‘Proceed to Pay’. And it’s done!

About PhonePe Group:

PhonePe is India’s leading digital payments company with 49+ crore (490+ Million) registered users and 3.6+ crore (36+ Million) merchants covering over 99% of the postal codes across India. On the back of its leadership in digital payments, PhonePe has expanded into financial services (Insurance, Mutual Funds, Stock Broking, and Lending) as well as adjacent tech-enabled businesses such as Pincode for hyperlocal shopping and Indus App Store which is India's first localized App Store. The PhonePe Group is a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their process by unlocking the flow of money and access to services.

For more details: media@phonepe.com 

MAN Industries (India) Ltd - Secures New Orders Worth INR 380 Crores For The Supply Of Pipes

MAN Industries (India) Ltd., one of the leading Large Diameter API Pipe manufacturing companies, has announced receiving new orders of approximately INR 380 Crores for the supply of Pipes.

The current unexecuted order book stands at INR 1,400 Crores, to be executed within the next six months. The current year has been promising for MAN Industries (India) Ltd. with the opening of their ERW Pipes plant in Anjar, Gujarat. The plant also received the prestigious BIS and ISO Certifications, and the API audit was successfully completed and closed, allowing the company to explore new avenues and forge strategic partnerships.

Commenting on the new order win, Dr. R.C. Mansukhani, Chairman, MAN Industries (India) Limited, said, “Securing these new orders is a clear reflection of the thriving business landscape, strengthening our position as an industry leader and emphasising the immense trust our clients place in our technological expertise and executional excellence. These new order wins further solidify our role as a significant contributor to our nation's growth and development.”

About MAN Group

MAN Industries (India) Ltd. is the flagship Company of Man Group, promoted by the Mansukhani Family in 1970. The Company is a part of the well-diversified MAN Group, growing under the dynamic leadership of Dr. R. C. Mansukhani. Starting as an Aluminium Extruder in 1988, MAN Industries has become one of the largest players in LSAW Pipes, Spirally Welded Pipes and Coating Systems.

It has state-of-the-art manufacturing facilities with a total combined capacity of 1.15 Million Metric Tonnes per annum for LSAW, HSAW and ERW Pipes. The ERW Pipes plant in Anjar, Gujarat, received the prestigious BIS and ISO Certifications, and the API audit was successfully completed and closed, allowing the company to explore new avenues and forge strategic partnerships.

It is dedicated to the highest Operating and Quality standards, environment protection and Occupational Health & Safety Standards and is accredited by ISO-9001, ISO 14001 & OHSAS 18001 certification. The shares of the Company are listed with the Bombay Stock Exchange and National Stock Exchange.

MAN Industries (India) Limited has been profit-making since its inception and is a consistent dividend-paying company. The Company holds an excellent track record of promptly meeting its financial obligations in a timely manner in the toughest market conditions.

Mahendra Singh Dhoni Takes The Field For Preventable Blindness Awareness With Maxivision Super Specialty Eye Hospitals

Maxivision Super Specialty Eye Hospitals is delighted to introduce legendary Indian Cricketer, Mahendra Singh Dhoni, as its esteemed Brand Ambassador. Popularly referred to as 'Captain Cool' for his outstanding leadership on the cricket field, MS Dhoni exemplifies qualities such as trustworthiness, reliability, and excellence. These attributes closely resonate with Maxivision's core values and philosophy, rendering him the perfect ambassador to spearhead the mission of educating and raising awareness about preventable blindness.

The need for proactive vision care cannot be overstated. Early preventive measures are not only more effective than corrective solutions but also help to prevent complications and vision disorders at their initial stages. This is especially important because various systemic health conditions such as diabetes, hypertension, and thyroid disorders, as well as lifestyle choices like smoking, can directly contribute to temporary or permanent vision impairment.

As part of this initiative, Maxivision Super Specialty Eye Hospitals emphasize the importance of regular eye checkups, likening them to other key components of preventive healthcare. The hospital chain is confident that the appointment of MS Dhoni as the Brand Ambassador will serve as a catalyst for spreading this crucial message far and wide. MS Dhoni's iconic status and charisma will help raise awareness on a massive scale, encouraging people to prioritize their eye health and seek timely medical attention. His association with the hospital underscores the importance of accessible and affordable eye care for all segments of society, transcending economic barriers.

Through the campaign and the continued efforts of Maxivision Eye Hospitals, the hope is that preventable blindness will become a less common affliction, and the gift of sight will be a reality for more individuals, contributing to a healthier and more vibrant society.

In the words of MS Dhoni, “Vision is at the heart of success in sports, where precision reigns supreme. The significance of clear vision extends far beyond the sporting arena. Following Maxivision’s motto, 'Eyes Speak. We Listen.', we are committed to taking care of your most precious blessing – your vision. Regular eye check-ups and maintaining optimal visual health are equally vital for achieving excellence in life. One must prioritize both sports and healthy living to ensure that their vision remains at its best.”

Adding more on the same, Dr. GSK Velu, Chairman and Managing Director of Maxivision Eye Hospitals said, "We are thrilled to have MS Dhoni join us as our Brand Ambassador. His legendary status and commitment to excellence make him the perfect representative of our mission to combat preventable blindness. With this collaboration, we aim to create greater awareness and ensure that accessible and affordable eye care becomes a reality for all segments of society."

Sudheer VS, Group CEO of Maxivision Eye Hospitals highlighted, “Across our network of 40+ hospitals, every day Maxivision provides a range of eye care services to thousands of patients. A significant number of these patients are only made aware of critical issues affecting their vision, lifestyle, and profession after thorough checkups. Our medical professionals often encounter patients with advanced-stage conditions like glaucoma and retinal issues, leaving limited room for restoring their vision to its full potential. The implementation of routine preventive eye care checkups can help avoid many of these eye diseases. Maxivision actively engages in a variety of online, offline, and on-ground initiatives aimed at promoting preventive eye care. By having a prominent figure like MS Dhoni endorse the importance of preventive eye care, we believe it will significantly reshape people’s approach towards routine eye check-ups.”

Maxivision’s mission remains to provide accessible and affordable eye care to all, and our dedicated team of experienced doctors, coupled with the latest technology, reflects our commitment to this goal. With six trusted partners, each boasting over 30 years of experience, we have a combined expertise of 150 years in the field of eye care. As we move forward, we anticipate welcoming over 10 partners in various locations, further enhancing our group with additional expertise and reputation. Maxivision Eye Hospital is proud to be at the forefront of advancing eye care services, and with the support of Mahendra Singh Dhoni as our Brand Ambassador and Dr. GSK Velu's leadership, we are more determined than ever to make a significant impact on preventable blindness in India.

About Maxivision: 

Maxivision Eye Hospital, founded by Dr. Kasu Prasad Reddy in 1996 and subsequently acquired by   Dr. GSK Velu in 2011, stands as one of India's foremost and rapidly expanding eye care chains. Maxivision has consistently upheld its unwavering dedication to delivering top-notch and affordable eye care services. Since its inception in 1996, it has proudly served over 5 million patients. Presently, the network has expanded to include over 45+ centers, with continued growth, covering six states in South and West India. Maxivision Eye Hospital employs a comprehensive approach, featuring four distinct models of care: Super Tertiary Centres of Excellence, Tertiary Care Eye Hospitals, Secondary Care Eye Hospitals, Primary Eye Centers, and Vision Centres: Maxivision Eye Hospitals are equipped to provide the most advanced and critical eye care services.

www.maxivisioneyehospital.com

Aditya Birla Capital Reports Strong Results For The Quarter Ended September 30, 2023

Aditya Birla Capital Limited (“The Company”) announced its unaudited financial results for the quarter and half year ended September 30, 2023.

The Consolidated Revenue1 of the Company grew by 22% year-on-year to ` 8,831 Crore in Q2 FY24. The Consolidated Profit after tax grew 44% year-on-year to ` 705 Crore in Q2 FY24. The strong momentum across businesses led to a 41% year-on-year and 8% sequential growth in the overall lending portfolio (NBFC and HFC) to ` 1,08,961 Crore as on September 30, 2023. The total AUM (AMC, life insurance and health insurance) grew by 12% year-on-year to ` 4,04,354 Crore.

The Company has a pan-India presence with 1,403 branches across all businesses as of September 30, 2023. The Company’s branch expansion is targeted at driving penetration into tier 3 and tier 4 towns and new customer segments.

The Company follows a ‘Digital First Approach’ for product innovation, direct acquisition, seamless onboarding and service delivery. In H1 FY24, ~ 78% customers were onboarded digitally in the AMC business. In life insurance, ~ 80% renewals were done digitally in H1 FY24. In Health Insurance business, ~ 85% business is delivered by auto-underwriting.

The Company continues to see a robust response to its comprehensive B2B platform for MSME ecosystem, Udyog Plus, with more than 164,000 registrations as of September 30, 2023. It offers paperless digital journey for business loans and loan disbursement of upto ` 10 lakh. The Company has integrated Udyog Plus with ABG ecosystem to provide channel financing to dealers. Udyog Plus has reached a monthly disbursement run rate of ~ ` 50 crore with ABG ecosystem contributing two-thirds of the business.

Highlights of NBFC business for Q2 FY24

Disbursements grew by 32% year-on-year to ` 16,477 Crore

Loan portfolio grew by 44% year-on-year and 9% sequentially to ` 93,522 Crore

Net interest margin (NIM) expanded by 16 basis points year-on-year to 6.87%

Profit before tax grew by 51% year-on-year and 7% sequentially to ` 736 Crore

·         Return on assets increased by 10 basis points year-on-year to 2.51%

·         Return on equity grew by 424 basis points year-on-year to 18%

·         Gross stage 2 and 3 assets declined by 326 basis points year-on-year and 22 basis points sequentially to 5.24%

Highlights of Housing Finance business for Q2 FY24

Disbursements grew by 52% year-on-year to ` 1,882 Crore

Loan book grew by 23% year-on-year and 6% sequentially to ` 15,439 Crore

Profit before tax grew by 28% year-on-year to ` 97 Crore

Return on assets grew by 9 basis points year-on-year to 2.03%

Return on equity grew by 144 basis points 14.5%

·         Gross stage 2 and 3 assets declined by 390 basis points year-on-year and 38 basis points sequentially to 4.39%

Highlights of Asset Management for Q2 FY24:

Mutual fund quarterly average assets under management (QAAUM) increased by 10% year-on-year and 5% sequentially to ` 3,10,899 Crore with equity mix at 41.9%

Individual monthly average assets under management grew by 11% year-on-year, to                          ` 1,59,069 Crore in September 2023

Monthly systematic investment plan (SIP) inflows grew by 4% year-on-year to ` 968 Crore in September 2023

·         Passive AUM grew by 68% year-on-year to ` 28,438 Crore

Highlights of Life Insurance business for H1 FY24:

Individual First Year Premium (FYP) grew by 13% year-on-year to ` 1,189 Crore

Renewal premium grew 19% year-on-year to ` 3,521 Crore

13th month persistency continued to improve at 87% in Sep 2023 (Sep 2022: 86%)

Net VNB margin expanded by ~ 195 bps year-on-year to 14.2%

·         Embedded value grew by 13% over March 2023 to ` 10,226 crore

Highlights of Health Insurance business for H1 FY24:

Gross written premium grew by 23% year-on-year to ` 1,561 Crore

Market share among standalone health insurers was 10.7%

Combined ratio was 119%

·         The net loss reduced to ` 140 Crore in H1 FY24 from ` 149 Crore in H1 FY23

Highlights of Other businesses for Q2 FY24:

Profit before tax for other financial services businesses (general insurance broking, stock and securities broking, and stressed assets platform) of the Company grew by 36% year-on-year to ` 81 Crore

About Aditya Birla Capital Limited

Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. With subsidiaries/JVs that have a strong presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to diverse needs of its customers across their life cycle.  Powered with about 42,000 employees, the businesses of ABCL have a nationwide reach with over 1,403 branches, more than 2,00,000 agents/channel partners and several bank partners.  

Aditya Birla Capital Limited is a part of the Aditya Birla Group, in the league of Fortune 500. Anchored by an extraordinary force of over 185,000 employees, belonging to 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, the Group’s businesses have grown into global powerhouses in a wide range of sectors – metals, pulp and fibre, chemicals, textiles, carbon black, telecom, cement, financial services, fashion retail and renewable energy. Today, over 50% of Group revenues flow from overseas operations that span 36 countries in North and South America, Africa, Asia and Europe.

* All above figures are in Indian rupees

IEX Power Market Update, For Month Of October 2023

*     IEX ACHIEVES 9260 MU ELECTRICITY VOLUME, INCREASE OF 21% YoY

*     IEX ACHIEVES 9,483 MU OVERALL VOLUME, INCREASE OF 18% YoY

*     PowerX* (AVERAGE CLEARING PRICE) FOR THE MONTH WAS Rs 6.28/unit

Indian Energy Exchange, India’s premier energy exchange, achieved 9260 MU total electricity volume in October 2023, registering an increase of 21% on YoY basis.  IEX achieved 9,483 MU overall volume, including 2.17 Lac Renewable Energy Certificates (RECs) (equivalent to 217 MU) and 5,814 Energy Saving Certificates (ESCerts) (equivalent to 5.8 MU). The overall volume traded during October increased 18% on YoY basis.

According to data published by GRID-INDIA, in October '23, the country's energy consumption reached 139 billion units, marking a substantial 22% year-on-year increase due to a surge in electricity demand owing to increase in electricity consumption, below-average rainfall in October, and a lower base from the same month last year. This upsurge in power demand prompted DISCOMs to actively purchase power on the exchange to meet the increased demand, thereby leading to a significant increase in trade volumes on IEX.

This surge in demand pushed Day-Ahead Market (DAM) prices on the Indian Energy Exchange (IEX) to Rs. 6.45 per unit, representing a substantial 68% year-on-year increase on a lower base price from the same month last year.

ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET

The Day-Ahead Market (DAM) volume increased to 4,742 MU in October ’23, from 4,379 MU in October '22, growing 8.3 % YoY.

The Real-Time Electricity Market (RTM) volume increase to 2,402 MU in October ‘23, from 2,265 MU in October '22, registering an increase of 6.1% YoY.

The RTM segment enables distribution utilities and industries with greater flexibility and efficient optimisation of portfolios by balancing their power demand-supply on a real-time basis.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 1,911 MU during October ‘23, higher by 207.6 % on YoY basis.

*PowerX is the price index of Indian Energy Exchange (IEX) and is calculated based on weighted average price of Day-Ahead Market and Real-Time Market discovered for the previous day delivery.

GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 188 MU volume during Ocotber’23

The Green Day-Ahead Market (G-DAM) achieved 180.80 MU volume during the month, with a weighted average price of Rs 6.37 per unit. The segment saw participation from 194 market participants during the month.

The Green Term-Ahead Market (G-TAM) achieved 7.23 MU volume in October ‘23, with average monthly price of Non-Solar- Rs 8.40/unit

RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)

A total of 2.17 lac RECs (equivalent to 217 MU) were cleared in the trading sessions held on 11th October’23 and 25th October’23, at a clearing price of Rs. 380/REC and Rs. 420/REC respectively.

The next REC trading sessions at the Exchange are scheduled on 08th November ’23 and 29th November’23.

ENERGY SAVING CERTIFICATES (ESCerts)

During October'23, 5,814 ESCerts (equivalent to 5.8MU) were traded on IEX, at the floor price of Rs. 1,840 per ESCert.

INDIAN ENERGY EXCHANGE LIMITED

IEX is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy and certificates including renewable energy certificates as well as the energy saving certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the energy market in India while also enhancing the speed and efficiency of trade execution. The Exchange is ISO Certified for quality management, Information security management and environment management since August 2016. The Exchange is a publicly listed company with NSE and BSE since October 2017 and is approved and regulated by Central Electricity Regulatory Commission since 27 June 2008. For further details, log on to: www.iexindia.com

Organic Harvest Enters Colour Cosmetics Category And Launches Its First Ever 100% Vegan Organic Makeup Range with DVC

Organic Harvest, India’s leading certified organic beauty brand, enters the colour cosmetics category with the launch of a new makeup line, offering meticulously crafted beauty solutions that boast certified organic ingredients. Committed to maintaining its legacy of delivering toxin-free and cruelty-free formulations, Organic Harvest presents a new paradigm for makeup, offering cosmetics that prioritise both skin health and environmental well-being, aligning with the growing demand for eco-friendly and safe beauty choices.

In response to the rising concerns among discerning consumers regarding the adverse effects of chemical-laden beauty products, Organic Harvest unveils a range of clean, sustainable, and result-driven makeup products that redefine the approach to cosmetics, without compromising on the skin’s health. Accompanied by a captivating digital video campaign featuring Actor and Brand Ambassador Nimrat Kaur, Organic Harvest revolutionises the beauty industry by harmonising nature's finest ingredients with cutting-edge beauty technology, promising a fresh and ethical perspective on makeup.

Speaking on the launch, Sukhleen Aneja, CEO of Good Brands Co., says, "With the launch of Organic Harvest's first-ever makeup range, we're taking another bold step towards fulfilling the vision of clean, ethical and sustainable beauty at Organic Harvest. We aim to empower individuals to embrace their natural beauty while making conscious choices for our planet, with the belief that beauty should be as pure as nature itself, and this makeup range is just that. It's about looking good while feeling good, and that's what Organic Harvest stands for. It's an exciting addition to our portfolio, and we're thrilled to share it with our customers."

Rahul Aggarwal, Founder of Organic Harvest, expressed his enthusiasm for the brand's expansion into makeup, saying, "We are thrilled to introduce Organic Harvest's first-ever makeup range, extending our commitment to clean and organic beauty. Our journey has always been about redefining beauty with a conscience and our customers can now enjoy cosmetics that not only enhance their appearance but also promote skin health. We're excited to introduce this line, and we believe it's going to revolutionise how people perceive organic beauty."

Nimrat Kaur, Actor and Brand Ambassador, Organic Harvest shares, “Having been associated with Organic Harvest for sometime now, the makeup range reflects an exciting and positive step towards a more sustainable future in the beauty industry.  I'm absolutely delighted to be part of the DVC and witness the launch of their first-ever makeup range, a collection beautifully blended from organic goodness with cutting-edge cosmetics. With Organic Harvest's products, consumers can not only enhance their beauty but also contribute to a greater good thereby shaping a future where conscious beauty decisions are the norm.”

Designed to enhance natural beauty while nourishing the skin, Organic Harvest's new makeup collection offers 6 new product categories - Matte Lipstick in 12 shades, Matte Liquid Lipstick in 8 shades, BB Cream in 3 shades, Matte Compact in 3 shades, Kohl and Liquid Eyeliner, tailored to meet the needs of modern consumers. The lineup includes:

Moisture Matte Lipstick: This creamy matte lipstick is enriched with organic almond oil to moisturise and protect the lips, while castor oil soothes and shields. With bold pigments, a long-lasting formula, and 12 buttery smooth shades, it's suitable for all skin tones. Available for INR 545.

Velvet Matte Liquid Lipstick: Crafted with organic almond oil for lip hydration and tea tree oil to soothe the skin, this liquid lipstick delivers a rich matte finish. It's transfer-proof, offers one-stroke even application, and is available in 8 luscious shades for all skin tones. The range is available for INR 595.

Weightless BB Cream: Enriched with organic almond oil for hydration and vitamin C & E  to brighten the skin tone, this lightweight BB cream provides full coverage. Its Full coverage , blendable  skin-loving formula is available in 3 shades suitable for all skin tones, for INR 495.

Soft Matte Compact: Featuring organic almond oil for hydration and vitamin C & E for skin brightening, this compact offers instant brightening with SPF 30 protection. It delivers a buildable matte finish and is available in 3 shades suitable for all skin tones, for INR 495.

Midnight Kohl: Made with organic almond oil to hydrate and soothe, this kohl eyeliner has smudge-proof and waterproof properties, and an intense black finish that complements all skin tones, for INR 199.

Midnight Matte Liquid Eyeliner: This liquid eyeliner, enriched with organic almond oil, hydrates and soothes while delivering a matte finish with rich black pigments. It is waterproof, smudge-proof, and can last up to 14 hours, catering to all skin tones, for INR 349.

Organic Harvest's inaugural makeup range marks a significant stride in the pursuit of clean, sustainable, and ethical beauty. With a deep-rooted commitment to harmonising nature's gifts with modern cosmetic expertise, this collection redefines the essence of organic beauty, where purity and performance coexist effortlessly, empowering individuals to express themselves authentically while prioritising their skin's health and the well-being of our planet.

Experience the best of beauty with Organic Harvest makeup range, now available for purchase on the brand's website: www.organicharvest.in and through select retailers nationwide. For more information, product details, and to explore the full range of Organic Harvest cosmetics, please visit  www.organicharvest.in

About Organic Harvest

Organic Harvest was born out of the need for natural beauty care products that were authentically natural. We discovered that while many brands claimed to be natural, they either barely contained enough plant-based ingredients or were a mix of natural and chemical ingredients. Since there are no mandates or guidelines governing this space, one could never be sure how natural the products from these brands really are and whether they still contain harmful chemicals. So, in 2013, we began our journey of crafting 100% certified organic beauty products that were not only vegan & safe but also result-driven. Our sustainable practices and end-to-end, toxin-free production process gained us the certification from USDA, globally trusted, independent benchmarks for socially conscious, eco-friendly production practices.

For more information, visit - www.organicharvest.in

YouTube Link - https://youtu.be/ac28QoSLxTg

NTPC Group Installed Capacity Touches 73874 MW As NTPC REL Declares Commercial Operation Of its 1st 50 MW Wind Project

NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC, has on 4th Nov declared commercial operation of  its first project of 50 MW Wind at Dayapar Project in Gujarat, taking the Group installed capacity to 74874 MW.

With this, the total RE operational capacity of NTPC Group now stands at 3364 MW.

This is also the first capacity in India declared commercial under new IEGC code and GNA Regime.

NTPC REL was incorporated as a wholly owned subsidiary of NTPC on 7th Oct 2020 to accelerate RE capacity addition of NTPC.

Dayapar Wind is the first project of NTPC REL and apart from this, there are 15 other RE projects under different stages of execution totalling 6210 MW.  Also, Dayapar Wind Complex, when fully commissioned shall be adding 450 MW to NTPC’s existing 100 MW wind portfolio.

NTPC REL in addition to solar and wind capacity, is also investing in Green Hydrogen technologies. Based on green hydrogen storage and microgrid principle, it is setting up a large capacity in Ladakh.

NGEL, another wholly owned subsidiary of NTPC,  has commissioned RE capacity of 2711 MW and is setting up 2 solar projects including 40 MW Solar at Ayodhya, UP and a Hydrogen Hub at Pudimadaka, Andhra Pradesh.

As part of long-term growth plan and sustainability, NTPC targets to have 60 GW Renewable Energy capacity by 2032 and now has a pipeline of 20 GW+ RE capacity.