NHPC inks pact with Maha government for renewable energy projects

7 Jun 2023 , 09:56 AM

NHPC Limited has entered into a Memorandum of Understanding (MoU) with the Maharashtra Government to establish energy storage systems along with other renewable energy sources such as Solar, Wind, or Hybrid. The total capacity involved in this project is 7,350 MW.

However, the company has not mentioned the other details such as financial consideration and timeline of the project, in its filing with the bourses.

NHPC is among the top hydropower development organizations in India with exceptional capabilities to carry on all the activities in hydro-related projects. NHPC has also expanded its presence to solar and wind energy segments. 

During FY23, the company achieved the generation of 24,907 Million Units (MUs) of power. 

The company also announced its results for the financial year ended March 2023 and has reported a consolidated net profit of Rs 3,890 crore. The company said that net profit grew 10% y-o-y against Rs 3,524 crore in the previous year.

At around 9.45 AM, NHPC was trading 0.79% higher at Rs 44.90, against the previous close of Rs 44.55 on NSE.

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