NTPC Green Energy (NGEL) has announced the commercial operation of an additional 69.04 MW at the Khavda-I Solar Project in Gujarat. The capacity represents the eighth instalment of the 1,255 MW project being developed under the Phase-II Tranche-III of the Central Public Sector Undertaking (CPSU) program.

Following the commissioning of this eighth part capacity, the total installed capacity of the NTPC Green will increase to 7,996.30 MW.

Recently, NTPC Green commissioned 243.66 MW of the same project. In November, it operationalized 75.5 MW and 95.75 MW.

The Khavda-I solar is part of NTPC’s large-scale solar development initiatives in Gujarat and is aligned with the CPSU program.

As of the second quarter of the financial year 2026, NTPC Green had a total portfolio of over 32 GW of renewable energy projects across India. The company has 15,680 MW of renewable energy projects contracted and 9,100 MW in the pipeline.

In December, it also commissioned 78 MW out of 245 MW capacity at Plot-1 of its Nokh Solar Project in Rajasthan.

Earlier, NTPC Green issued unsecured non-convertible debentures of ₹15 billion (~$169.47 million) through private placement at a coupon of 7.01% per annum for a 10-year and one-day tenor, maturing on November 12, 2035.

The company stated that it will use the proceeds to finance its capital expenditure. This includes refinancing and recouping capital expenditures that the company has already incurred. It will also utilize the proceeds to extend financing for capital expenditure to its subsidiaries and joint ventures through inter-corporate loans, as well as for other general corporate purposes.

In October this year, NTPC Green announced the commencement of commercial operations of a 12.5 MW solar capacity at Bhuj, Gujarat. This capacity is part of a total 37.5 MW solar project being developed by Ayana Renewable Power Four, a subsidiary of Ayana Renewable Power.