Dear Shareholders,
The financial year 2024–25 marks an important milestone in the
journey of NGEL. With the successful launch of our IPO, NGEL became the first non-banking
public sector subsidiary to be listed in India. The strong response from the market
highlighted the clarity of our strategy and the confidence in our future. I extend sincere
thanks to all who made this possible; investors, government authorities, employees, and
other stakeholders who supported us throughout.
NGEL has now crossed a market capitalisation of $10 billion and is
among one of the largest renewable energy companies in India by installed capacity. This
reflects the growing recognition of our role in the country's clean energy
transition. Our first year as a listed company has been one of steady progress and focused
delivery.
Building on our solar and wind portfolio, we are now expanding into new
areas such as green chemicals and storage. A key development this year was the foundation
laying of India's largest green hydrogen hub at Pudimadaka, Andhra Pradesh, by the
Hon'ble Prime Minister. The project is expected to strengthen India's presence
in the global green hydrogen space and supports our goal of contributing to the energy
transition through clean fuels, while also creating long-term value for our shareholders.
Additionally, the acquisition of Ayana Renewable Power through our joint venture ONGPL, in
partnership with ONGC Green Ltd., added over 4 GW of operational and pipeline capacity,
strengthening our presence across the renewable energy value chain.
India has already achieved the milestone of 50% installed power
capacity from non-fossil fuel sources ahead of schedule. NGEL, established to drive
NTPC's green energy initiatives, has grown into a key player focused on scalable
clean energy solutions and continues to contribute meaningfully to this national progress.
Our projects in solar, wind, green hydrogen, storage, and hybrid systems reflect this
commitment, not just in terms of capacity addition but also in enabling long-term value
creation for the economy and the environment.
Sustainability is not just a guiding principle for your company but it
is the foundation for its operations and future growth.
Our commitment to clean energy is reflected in our efforts to
accelerate India's energy transition through renewable projects, green hydrogen
pilots, energy storage, and other low-carbon technologies. We are actively integrating ESG
considerations across project planning, execution, and operations. By prioritising
resource efficiency, community engagement, and climate resilience, NGEL is building a
sustainable energy ecosystem that supports national development goals.
We remain focused on building a resilient and future-ready organisation
and all the required steps have been taken to achieve our committed target of 60 GW by
2032, and we are well on track. Key areas of attention include digital transformation,
governance, climate alignment, and capability building. We are investing in people and
systems to manage the demands of the energy transition and to deliver outcomes that are
both responsible and effective. I would like to acknowledge the continued support of the
Government of India, particularly the Ministry of Power, Ministry of New and Renewable
Energy, Ministry of Finance, DIPAM, SEBI, CERC, CEA, and CAG. We thank our shareholders,
customers, partners, and collaborators for their trust and cooperation. I also appreciate
the guidance of our Board during this important phase and acknowledge the commitment of
our employees, whose efforts have driven this year's achievements.
As we look to the future, NGEL will continue to grow in scale,
capability, and impact. It will keep on supporting India's development and climate
goals while creating long-term value for all its stakeholders. With a solid foundation and
a clear sense of direction, we are prepared to contribute meaningfully to the next phase
of India's green energy transition.
With best wishes,
Yours sincerely,
Sd/-
Gurdeep Singh
Chairman & Managing Director