NHPC Ltd

NHPC Limited is a Mini-Ratna Category-I Enterprise of the Government of India. The Company is one of the largest organisation in the field of hydro power development in the country. The Company is primarily involved in the generation and sale of bulk power to various Power Utilities. Other business in which the Company is involved includes providing project management / construction contracts/ consultancy assignment services and trading of power. NHPC Limited was incorporated on November 7, 1975 as a Private limited company under the name of 'National Hydro Electric Power Corporation Private Limited'. In April, 1986, the company was converted into a Public limited company. The name of the company was again changed from National Hydro Electric Power Corporation Limited to NHPC Limited with effect from March 28, 2008. The company was established with an objective to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects. Later, they expanded their objects to include development of power in all aspects through conventional and non-conventional sources in India and abroad. During the year 1976-77, the company received Loktak hydroelectric project with a capacity of 105 MW from Government of India and in the next year, they received Baira Siul hydroelectric project with the capacity of 180 MW. In the year 1982-83, the company commissioned the Baira Siul power station in Himachal Pradesh. During the year 1983-84, the company commissioned all the units Devighat power station in Nepal and Loktak power station (105 MW) in Manipur. During the next year, they set up a Hydro Power Training Institute at the Baira Siul hydroelectric project to train operators and supervisory staff. During the year 1987-88, the company established a satellite telecommunication network up to link various projects. During the year 1989-90, the Government of India upgraded the company from a Schedule B to a Schedule A corporation. During the year 1992-93, the company set up a consultancy wing to provide a range of specialised services in the investigation, design, construction and operation of hydel projects. Also, they commissioned Tanakpur power station with the capacity of 120 MW in Uttarakhand. During the year 1995-94, the company commissioned Chamera I power station with the capacity of 540 MW in Himachal Pradesh. Also, the company was awarded the lining work of Jawahar Tunnel in Jammu & Kashmir during the year. During the year 1995-96, they signed an agreement for execution of Kurichhu hydroelectric project with the capacity of 45 MW in Bhutan. During the year 1997-98, the company commissioned the Uri power station with the capacity of 480 MW in Jammu & Kashmir and during the year 1999-2000, they commissioned Rangit power station with the capacity of 60 MW in Sikkim. During the year 2000-01, the company commissioned 45 MW Kurichhu power station in Bhutan. The company entered into an MoU with Government of Madhya Pradesh to exploit the hydro electric potential of the Narmada basin by completing the Indira Sagar and Omkareshwar projects. Also they entered into an MoU with Government of Jammu & Kashmir to exploit the power potential of the state. During the year 2003-04, the company commissioned the 300 MW Chamera- II power station in Himachal Pradesh. During the next year, NHDC, a joint venture company commissioned 1,000 MW Indira Sagar hydroelectric project in Himachal Pradesh. During the year 2006-07, the company added 390 MW generating capacity with the commissioning of Dul Hasti Hydroelectric Project in Jammu & Kashmir. The company entered into an agreement with Government of Bhutan for preparation of DPR of Mangdechhu project with the capacity of 672 MW in Bhutan. During the year 2007-08, the company commissioned 510 MW Teesta-V power station. NHDC, the joint venture company commissioned 520 MW Omkareshwar hydroelectric project in Madhya Pradesh. The company entered into an MoA with the Government of Arunachal Pradesh to execute the Dibang multipurpose hydroelectric project. Also, they entered into an MoU with the government of Manipur to exploit the hydro electric potential of the tailrace discharge of Loktak Downstream Hydroelectric Project. During the year, the company signed an MoU with the Ministry of Rural Development, Government of India and Government of Bihar for construction of Rural Roads and the maintenance under Pradhan Mantri Gram Sadak Yogna in Bihar. The company was conferred with Mini-Ratna (Category I) status by the Ministry of Power with effect from April 28, 2008. During the year 2008-09, the company entered into an MoU with the Government of Jammu & Kashmir, JKSPDC and PTC to incorporate a joint venture develop the Pakal Dul and other hydro projects in the Chenab River Basin. Also, the company along with NTPC, PFC and Tata Consultancy Services Ltd incorporated a joint venture company, namely National Power Exchange Ltd. During the year 2009-10, the company along with NTPC, Powergrid Corporation of India Ltd and Damodar Valley Corporation incorporated a joint venture company, namely National High Power Test Laboratory Pvt Ltd. In January 8, 2010, the company signed an agreement with Ministry of External Affairs (MEA), Government of India for taking up Additional Investigations and Preparation of Updated Detailed Project Reports for 1200 MW Tamanthi HE Project and 642 MW Shwezaya HE Project in Myanmar. In March 23, 2010, the company has signed an agreement with Department of Energy, Royal Govt. of Bhutan for providing engineering & consultancy services relating to pre-construction activities of Mangdechhu Hydroelectric Project (720 MW) in Bhutan at a total cost of Rs 11.67 crore. In April 28, 2010, an MoU was signed amongst NHPC Ltd, Government of Manipur and SJVN Ltd for formation of a joint venture company for implementation of 1500 MW Tipaimukh Hydroelectric (Multipurpose) Project in Manipur. NHPC Ltd, SJVN Ltd and Government of Manipur shall have a share holding of 69%, 26% and 5% respectively. The Unit-I of SEWA-II HE Project started commercial operation with effect from June 29, 2010. Also, the SEWA-II H.E. Project (120 MW) started commercial operation with effect from July 24, 2010, consequent upon successful trial run of balance Unit-II (40 MW) of the Project. During the year 2010-11, a joint venture company, the Loktak Downstream Hydroelectric Corporation Ltd, was formed for executing the 66 MW Loktak Downstream Project in Manipur with a 74% by the company and 26% by the Government of Manipur. The company signed a joint venture agreement with SJVN Ltd and the Government of Manipur to implement the 1,500 MW Tipaimukh Hydroelectric (multipurpose) Project in Manipur with shareholding of NHPC, SJVNL and the Government of Manipur being ratio of 69:26:5 respectively. In September 29, 2010, the 120 MW SEWA-II Power Station (3x40) 120 MW in Jammu and Kashmir was dedicated to the nation. With the commissioning of Sewa-II, the compaby's installed capacity increased to 5,295 MW through their 14 operating power stations (including the 1,000 MW Indira Sagar and 520 MW Omkareshwar Power Stations of NHDC Ltd, a subsidiary of NHPC and the Government of Madhya Pradesh). In March 2011, the company signed an agreement with the Department of Energy, Royal Government of Bhutan for providing engineering consultancy services for pre-construction activities at the Mangdechhu H.E. Project (720MW) in Bhutan. In May 23, 2011, the company signed a MoU with Russia's power generating Company JSC RusHydro for Cooperation on case-to-case basis in Hydropower projects in India and other countries. In June 2011, the company incorporated a new joint venture (JV) company, namely Chenab Valley Power Projects (P) Ltd to execute Pakul Dul and other hydroelectric projects, with an aggregate installed capacity of about 2100 MW in the Chenab basin in the state of Jammu & Kashmir. The equity share capital in the Chenab Valley Power Projects shall be contributed by NHPC, Jammu and Kashmir State Power Development Corporation and PTC India in the ratio of 49:49:2 respectively. The company signed one more MoU for a joint venture company with OHPC and the Government of Orissa to implement three hydroelectric projects -SINDOL-I,II and III, with a total capacity of 320 MW on the Mahnandi river, downstream of Hirakund in Orissa. On 4 July 2014, NHPC announced that it has commissioned all the three units of its 231 MW (77 MW x 3) Chamera-III Hydroelectric Project in Himachal Pradesh. All the three units of the project have been put on commercial operation. The project would generate 1104 million units annually in a 90% dependable year. The power generated from Chamera III will benefit the states of Himachal Pradesh, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, Haryana, Jammu & Kashmir, Delhi and Chandigarh (UT). A share of 12% of the generated energy will be given to State Government of Himachal Pradesh as free power. On 4 July 2014, NHPC's 240 MW URI-II Power station located in Baramulla district of Jammu and Kashmir was dedicated to the nation by Prime Minister Narendra Modi. On 12 August 2014, NHPC's Chutak Hydro Power Station (44 MW) in Jammu and Kashmir was dedicated to the nation by Prime Minister Narendra Modi. The Chutak Hydro Project is a run-off-river scheme on the river Suru, to generate 216 million units in a 90% dependable year having installed capacity of 44 MW. The first unit was commissioned on November 2012 and all the balance three units were commissioned in February 2013. It has been completed at a cost of Rs 894 crore and total power generated from this power station will be supplied to Jammu & Kashmir state. On 17 October 2014, Promoters' Agreement was signed between NHPC and Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) for setting up a Joint Venture Company for implementation of Solar Power Projects in Uttar Pradesh. Initially this JVC proposes to implement a 50 MW grid connected Solar Power Project at Parason (Tehsil - Kalpi), District - Jalaun, Uttar Pradesh, for which MoU was signed on 8 August 2013 between UPNEDA and NHPC. This is the first solar power project of NHPC. On 3 July 2015, a Memorandum of Understanding was signed among NHPC, the West Bengal state government and West Bengal State Electricity Distribution Company Limited (WBSEDCL) for development of four hydro projects with total capacity of 293 MW in Teesta Basin. These projects are 80 MW Teesta Low Dam-V, 81 MW Teesta Low Dam I & II combined, 84 MW Teesta Intermediate Stage, and 48 Rammam Stage-I all located in District Darjeeling of West Bengal. These projects shall be developed on Build, Own, Operate and Maintain (BOOM) basis by NHPC. On 21 July 2016, NHPC executed Memorandum of Understanding (MoU) with Bharat Heavy Electricals (Bhel) to associate for undertaking hydropower projects in overseas markets with Bhel undertaking the electro-mechanical package and related works and NHPC undertaking civil and related works of the hydropower projects. On 1 August 2016, NHPC achieved successful spinning of the 4th Unit of the 4x40 MW (160 MW) Teesta Low Dam-IV Hydroelectric project in Darjeeling District of West Bengal. Teesta Low Dam-IV Hydroelectric project will generate 720 million units of electricity in a 90% dependable year on commissioning of all its four units. The sole beneficiary state of this project is West Bengal. On 8 September 2016, NHPC announced that it has signed a Contract Agreement with Bharat Heavy Electricals (Bhel) for R&M (Renovation and Modernization) of 180 MW Baira Siul Power Station, Himachal Pradesh. Baira Siul will be NHPC's first power station where R&M works will be undertaken for purpose of life extension of the generating station. Baira Siul was the first Power Station of NHPC since it began its journey towards becoming a hydro major in the country. On 18 October 2016, NHPC's Parbati-III Power Station (520 MW) was dedicated to the nation by Prime Minister Narendra Modi. The power plant is designed to generate 1963.29 million units annually. The power generated from the Parbati-III Power Station is distributed to beneficiary states i.e. Himachal Pradesh, Jammu & Kashmir, Punjab, Uttarakhand, Uttar Pradesh, Haryana, Delhi, Rajasthan and Union Territory of Chandigarh. On 2 November 2016, NHPC announced the commissioning its first 50 MW Wind Power Project located at Lakhmana, Jaisalmer District in Rajasthan. The project has been constructed on EPC basis with a cost of Rs 302.50 crore. The Board of Directors of NHPC at its meeting held on 7 February 2017 approved the buy back by the company of its fully paid-up equity shares of Rs 10 each not exceeding 81.13 crore equity shares representing 7.33% of the total number of equity shares in the paid-up share capital of the company at a price of Rs 32.25 per share for an aggregate consideration not exceeding Rs 2616.59 crore through the Tender Offer route. On 17 July 2017, NHPC announced the signing of a Power Purchase Agreement (PPA) in respect of seven power stations namely Bairasiul, Salal, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III with BSES Rajdhani Power Limited for a period of 35 years from the date of commercial operation of respective power stations. On 9 August 2017, NHPC announced the signing of a Power Purchase Agreement (PPA) in respect of seven power stations namely Bairasiul, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III with BSES Yamuna Power Limited for a period of 35 years from the date of commercial operation of respective power stations. The third unit (110 MW) of the Kishanganga Hydroelectric Project (3 x 110MW) of NHPC at Bandipora, Jammu & Kashmir was commissioned in March 2018. In 2017-18, the Company commissioned a 50 MW Solar Power Project in Theni/ Dindigul District of Tamil Nadu effective on March 23, 2018. It installed roof top solar power plants at its various projects/power stations including corporate office with aggregate capacity of 860 KWp. First unit of Parbati-II H.E. Project was synchronized on part-load. Erection of all radial gates of dam was completed. During the year 2017-18, NHPC further invested Rs 122.36 crore in CVPPPL. The shareholding of NHPC was increased to 55.39% as on March 31, 2018 and therefore, CVPPPL became subsidiary of NHPC Limited. During the financial year 2018-19, the Company installed roof-top/ ground mounted solar power panels at its various locations having capacity of 634.7 KWp. Further, it installed 1.00 MWp Solar Power Plant at rooftop of different buildings of NHPC Residential Complex, Faridabad in June, 2019. During the financial year 2019-20, Government of India had divested 2.38% of total paid-up Share Capital of the Company through Bharat 22 Exchange Traded Fund (ETF) in October, 2019 and CPSE ETF in February, 2020. After the divestment, holding of the Government of India in the Company was reduced at 70.95% of the total paid up capital of the Company. During the financial year 2019-20, NHPC has taken over Lanco Teesta Hydro Power Limited (LTHPL) for the implementation of Teesta VI HE Project (500 MW) in Sikkim through Corporate Insolvency Resolution Process (CIRP) in October, 2019. It was first Central Public Sector Enterprise's takeover of a Company through CIRP. After takeover, LTHPL became wholly owned subsidiary of NHPC Limited. Ratle Hydroelectric Power Corporation Limited, a Joint Venture Company of NHPC Limited and Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL) was incorporated on June 1, 2021 with equity participation of 51:49 respectively, for implementation of Ratle Hydro-electric Project (850 MW) in the Chenab River Basin in Union Territory of Jammu and Kashmir. Chenab Valley Power Projects Private Limited (Earlier a Joint Venture Company of NHPC (49%), JKSPDCL (49%) and PTC (2%)) became Subsidiary Company of NHPC consequent upon taking over of 2% equity of PTC India Limited (PTC) in CVPPPL by NHPC Limited in June, 2021. Jalpower Corporation Limited (JPCL) became wholly owned subsidiary of NHPC on March 31, 2021 consequent upon its takeover by NHPC. Renovation & Modernization for Life Extension (R&M LE) of two Power Stations i.e. Bairasiul Power Station (180 MW) and Loktak Power Station (105 MW) of Unit-III was commissioned in August 2021. In FY 2022-23, 320 MW Solar Project was commissioned by Solar Power Developer (SPD) out of 2000 MW. Bundelkhand Saur Urja Limited (BSUL) commissioned 26 MW capacity Solar PV Power Generation Project in Tehsil Kalpi, Uttar Pradesh in July, 2022. It commissioned 14.1 MW Devighat Hydropower Project in Nepal and 60 MW Kurichu Hydropower project in Bhutan in 2023. In 2024, Company marked a significant milestone in the Subansiri Lower HE Project, with the installation of Spillway Radial Gates Nos. 7, 8 and 9 along with the sealing arrangement on April 25, 2024. The Dirki Nalla diversion at the Dibang Multipurpose Project, India's largest hydro power project 2880 MW laid a foundation stone in 2024. The inauguration of the 380 MW Solar Project in Jaisalmer District, Rajasthan played a pivotal role in the renewable energy sector, 1200 MW Jalaun Ultra Mega Renewable Energy Power Park of Bundelkhand Saur Urja Limited (BSUL), NHPC's JV with Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA), added another feather to NHPC's cap. 300 MW Solar Power Plant was commissioned in Bikaner, Rajasthan. It signed an MOU with Kerala State Electricity Board for establishing a 'Design Clinic' for project design vetting; signed a Memorandum of Agreement (MOA) with Government of Arunachal Pradesh for the development of 1,605 MW Subansiri Upper Hydroelectric Project and 1,720 MW Kamala Hydroelectric Project; signed an MOU with Andhra Pradesh Power Generation Corporation for Implementing Pumped Hydro Storage and Renewable Energy Projects in joint venture mode in Andhra Pradesh; signed with ONGC for cooperation in exploration & development of Pumped Hydro Storage & other Renewable Projects. In FY 2025-26, Company completed the commercial operations of all the four units (200 MW each) of Parbati-II HE Tunnel Project by adding hydro capacity addition of 800 MW in the hydropower sector. Further, at Teesta-VI H.E. Project, the Head Race Tunnel (Face 1B & Face 2B) was completed in April 2025. APGENCO NHPC Green Energy Limited (ANGEL), a Joint Venture Company of the Company and Andhra Pradesh Power Generation Corporation Limited (APGENCO) was incorporated on January 23, 2025, for implementation of Pumped Storage Hydro Power Projects and Renewable Energy (solar/ floating solar/ wind) Projects in Andhra Pradesh. NHPC has commissioned the 300 MW Karnisar Solar Power Plant in Bikaner, Rajasthan. In FY 2026, daylighting of Diversion Tunnel -3 at the 2880 MW Dibang Multipurpose Project has been commissioned. Commercial operation of 4 out of 8 units (250 MW each) of Subansiri Lower HE Project (2000 MW), located in Assam and Arunachal Pradesh, has been declared up to May, 2026. 251 MW Solar Project at Jaisalmer is commissioned in 2026.