NHPC Ltd sets up NHPC Renewable Energy Ltd for RE, small hydro, and green H2 projects
NHPC Limited has announced that it has set up a new wholly-owned subsidiary company namely "NHPC Renewable Energy Limited (NREL)", for the development of Renewable Energy, Small Hydro, and Green Hydrogen-based business of NHPC Ltd.
The subsidiary has been incorporated with the Registrar of Companies, NCT of Delhi & Haryana. Speaking on the occasion, Mr. A.K. Singh, CMD, NHPC said that NHPC has envisaged becoming a globally leading organization for sustainable development of clean power. The incorporation of NHPC Renewable Energy Limited shows our deep commitment towards tapping Renewable Energy which helps in the reduction of carbon emissions and in producing clean and green energy. The decision of setting up a subsidiary for renewable energy comes at a time when NHPC which is predominantly a Hydro player, plans to increase the share of renewable energy in its generation portfolio.
Previously, the formation of the separate renewable energy unit got the nod of the Department of Investment and Public Asset Management and NITI Aayog in December '2021. The subsidiary company shall develop Renewable Energy Projects either in Stand-alone mode or through the formation of Special Purpose Vehicles with the collaboration of other agencies.
At present, NHPC's total installed generation capacity stands at 7071 megawatt (MW) which includes 100 MW of Solar/ Wind energy-based plants. Another 5999 MW of Hydro and 105 MW of Solar Plants are under construction. NHPC Ltd. Is expanding its renewable energy portfolio and has taken up several projects under different modes, which are presently under tendering / development stage. Recently, NHPC signed a Letter of Intent with Rajasthan Renewable Energy Corporation Limited (RRECL) for "Development of 10000 MW Renewable Energy Projects / Parks in Rajasthan"