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NTPC Green Energy starts 165 MW solar operations in Gujarat; total capacity nears 9 GWNTPC Green Energy Limited began commercial operations of 165 MW at Khavda-II Solar PV project in Gujarat, raising total capacity to 8,992.68 MW. Q3 profit fell 73%, but revenue and EBITDA rose.By Gareema Bangad  February 20, 2026, 8:42:00 AM IST (Published)2 Min ReadNTPC Green Energy Limited has commenced commercial operations of an additional 165 MW capacity at its Khavda-II Solar PV project in Gujarat, the company declared in a regulatory filing on Thursday, February 20.

It said the second part capacity of 165 MW out of the 1,200 MW Khavda-II Solar PV project, developed by its wholly owned subsidiary NTPC Renewable Energy Limited, has been declared under commercial operation with effect from 00:00 hours on February 20, 2026.

Following the commissioning of this capacity, the total commercial capacity of the NTPC Green Energy Limited Group has increased to 8,992.68 MW, up from 8,827.68 MW earlier.

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The Khavda project is located in Gujarat’s Kutch district, which has emerged as a key hub for large-scale renewable energy installations, supported by high solar irradiance and strong evacuation infrastructure.

For the December quarter, the State-owned company reported a 73% year-on-year decline in its net profit at ₹17.5 crore, compared with ₹65.6 crore in Q3FY25. Revenue for the quarter was up 29.4% at ₹653.3 crore from ₹505 crore reported in the same quarter in the previous year.

NTPC Green Energy's EBITDA increased 33.8% year-on-year to ₹567 crore from ₹424 crore, and EBITDA margin for the quarter improved to 86.8% from 84% in the year-ago period.

Shares of the company closed 1.07% higher at ₹90.50 on Thursday, ahead of the announcement. The stock has declined 14.61% in the past year.Continue ReadingTagsGujaratNTPC Green EnergyShare Markets TodaySolar project