NHPC Limited has set up a new wholly owned subsidiary company, NHPC RENEWABLE ENERGY LIMITED (NREL), for development of Renewable Energy, Small Hydro and Green Hydrogen-based businesses. The subsidiary has been incorporated with the Registrar of Companies, NCT of Delhi & Haryana. It will develop RE projects either in stand-alone mode or through formation of Special Purpose Vehicles (SPVs) with collaboration of other agencies.
Speaking on the occasion, A. K. Singh, CMD, NHPC, said “NHPC has envisaged to become a global 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 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.”
Currently, NHPC’s total installed generation capacity stands at 7,071 mega-watt (MW), which includes 100 MW of Solar/ Wind energy-based plants. Another 5,999 of Hydro and 105 MW of Solar Plants are under construction. NHPC Ltd. is expanding its RE portfolio and has taken up several projects under different modes, which are presently under tendering / development stage. Recently, NHPC signed Letter of Intent with Rajasthan Renewable Energy Corporation Limited (RRECL) for “Development of 10,000 MW RE projects or parks in Rajasthan.”
