India’s NHPC has set up a new wholly owned subsidiary company for the development of renewable projects, including small hydro, and green hydrogen.
NHPC Renewable Energy Limited has been set up as NHPC, which is predominately a hydropower developer, plans to increase the share of renewable energy in its generation portfolio.
“NHPC’s has envisaged to become a global leading organization for sustainable development of clean power,” said Shri A.K. Singh, CMD, NHPC. “The incorporation of NHPC Renewable Energy Limited shows our deep commitment towards tapping Renewable Energy which helps in reduction of carbon emissions and in producing clean and green energy.”
The formation of a separate renewable energy unit was given the green light by the Department of Investment and Public Asset Management and NITI Aayog in December 2021. The new company will develop renewable energy projects either in Stand-alone mode or through the formation of Special Purpose Vehicles with collaboration of other agencies.
Currently, NHPC’s total installed generation capacity stands at 7071MW which includes 100MW of Solar/ Wind energy-based plants. Another 5999MW of hydro and 105MW of solar is under construction.