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Salal Power Station, J&K Clean Power For Every Home INVESTOR PRESENTATION FINANCIAL YEAR 25 - 26 : September 2025
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2 NHPC Today Financial Highlights Financial Ratios Projects at a Glance & New Initiatives Projects under Operation Presentation Outline Our Vision: To be a global leading organization for sustainable development of clean power through competent, responsible and innovative values.
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NHPC - Today 3 NHPC-Energising India With Hydropower Subansiri Lower, Assam & Arunachal Parbati-II, Himachal
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4 CONSOLIDATED PHYSICAL SNAPSHOT Under Pipeline 8333 MW installed capacity (7771 MW Hydro & 562 MW Renewable Energy) through 30 power stations • Incorporated in 1975 with authorised capital of ₹ 200 crore, the present authorised capital is ₹ 17500 crore (Paid Up Capital ₹ 10,045 crore) • Navratna PSU (since Aug-24) • Established track record, strong operational performance and in-house engineering capabilities • Involved across the entire chain of hydro power project development – from concept to commissioning. • Presence across 15 states & 2 UTs. • 16% share of installed hydro-electric capacity in India (7,771 MW out of 50,108 MW*). • Consultancy business. • Power trading business. • Exposure to international business opportunities. * Source-CEA as on 30.09.2025 J&K HP Punjab Haryana Rajasthan Uttarakhand Uttar Pradesh Gujarat Madhya Pradesh Odisha Bihar Maharashtra Andhra Pradesh Karnataka Tamil Nadu Kerala Chhattisgarh Jharkhand Sikkim Arunachal Pradesh Assam Nagaland Manipur Mizoram Tripura Delhi Loktak Teesta Low Dam - IVTeesta Low Dam - III West Bengal Indirasagar Omkareshwar Chamera III Chamera I Sewa II Salal Uri I Uri II Kishanganga Chutak Nimoo Bazgo Dulhasti Baira Siul Parbati II Parbati III Subansiri Lower Chamera II Dhauliganga I Tanakpur Teesta V Rangit Operating power stations (8,333 MW) Projects under construction (9,704 MW) Jaisalmer Theni/Dindigul Note : Map Not To Be Scaled Pakal Dul Kiru Teesta VI Rangit-IV Ratle 600 MW Solar Kwar Omkareshwar Floating Solar Kalpi Karnisar 100 MW Solar Dibang Ground Mounted Solar, Sanchi 50 MW Floating Solar 40 MW Solar 200 MW Solar Ajmer 200 MW Solar
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5 Installed Capacity Under Construction Power Stations under Operation: • Hydro – 23 Nos. (7771 MW) • Solar & Wind – 7 Nos. (562 MW) • Total – 30 Nos. (8333 MW) CONSOLIDATED PHYSICAL SNAPSHOT Projects Under Construction • Hydro – 8 Nos. (8514 MW) • Solar – 6 Nos. (1190 MW) • Total – 14 Nos. (9704 MW) Awaiting Clearances Projects Awaiting Clearances & Approval : - • Hydro – 8 Nos. (7521 MW) • Solar – 3 Nos. (145 MW) • Total – 11 Nos. (7666 MW) Under Survey &Investigation • Projects under Survey & Investigation - Hydro – 3 Nos. (1890 MW) • Pump Storage – 18 Nos. (20880 MW) • Total – 21 Nos. (22770 MW) Hydro Power is 10% (50108 MW) of All India Installed Capacity (500889 MW*). NHPC Contribution is 16% of Installed Hydro Power On Consolidated Basis. *Source-CEA as on 30.09.2025 Status Capacity (MW) Operational Projects 8,333 Projects Under Construction 9,704 Projects Under Clearance 7,666 Projects Under Survey & Investigation 22,770 Total 48,473
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6 NHPC ’ s Track Record – A Ten Year Digest Nation Building Through Sustainable Power Development Actual H1 FY’26 Actual H1 FY’25 •Country Generation 963 BU •Share of Hydro Power 107 BU (11%) •Share of NHPC (Hydro) Consolidated 20491 MU (19%) •Country Generation 952 BU •Share of Hydro Power 95 BU (10%) •Share of NHPC (Hydro)- Consolidated 18415 MU (19%) Hydro: 25184 MU(excl. infirm power of 16 MUs : Parbati II), Wind: 56 MU & Solar: 292 MU. 26616 28024 24298 26331 30236 28471 27139 30063 26285 25532 Consolidated Generation (in M.U.)
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Financial Highlights 7 Clean Power For Every Home Sewa II, UT of J&K Chamera I, Himachal
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8 Financial Highlights : Consolidated Awaiting Clearances Pipelined Projects Revenue & Expenditure-Analysis ₹ In Crore Revenue Fr. Oper.93% Other Income 7% Revenue H1 FY’26 Employee Benefit Expenses 18%Generation Expenses 14% Depreciation 21% Finance Cost 13% Other Expenses, 34% Expenditure H1 FY’26 Interim Dividend – 14.00% & Final Dividend – 5.10% 9648 9189 10607 9632 10380 3257 3524 3890 3624 3007 16.00% 18.10% 18.50% 19.10% 14% 15% 15% 16% 16% 17% 17% 18% 18% 19% 19% 20% 0 2000 4000 6000 8000 10000 12000 2020-21 2021-22 2022-23 2023-24 2024-25 Revenue Vs. Net Profit Vs. Dividend Revenue Net Profit Dividend Rs. In Crore 19.00% Particulars FY’26 FY’25 % Change Half Year Qtr-2 Half Year Qtr-2 Full Year Half Year Qtr-2 Revenue from Operation 6579.03 3365.26 5746.13 3051.93 10379.86 14.49 10.27 Other Income 493.71 264.72 693.88 350.16 1349.45 -28.85 -24.40 Total Income (A) 7072.74 3629.98 6440.01 3402.09 11729.31 9.82 6.70 Generation Expenses 591.92 301.68 597.36 314.24 799.16 -0.91 -4.00 Emp. Benefits Expense 749.96 326.46 715.75 373.27 1823.60 4.78 -12.54 Finance Cost 538.49 277.69 551.89 307.99 1188.94 -2.43 -9.84 Depre. & Amort. Expense 877.23 441.46 581.59 285.26 1193.04 50.83 54.76 Other Expenses 1408.77 710.25 1018.39 559.26 2237.18 38.33 27.00 Total Expenditure(B) 4166.37 2057.54 3464.98 1840.02 7241.92 20.24 11.82 Share of Net Profit of Associates (C) 0.71 0.09 1.06 0.35 2.36 -33.02 -74.29 PBT(Before RRA) (D=A-B+C) 2907.08 1572.53 2976.09 1562.42 4489.75 -2.32 0.65 Rate Regu. Income (E) 366.50 182.74 189.96 103.14 277.44 92.94 77.18 PBT (After RRA) (F=D+E) 3273.58 1755.27 3166.05 1665.56 4767.19 3.40 5.39 Tax (G) 923.14 535.99 1004.08 605.22 1355.46 -8.06 -11.44 Profit After Tax (H=F-G) 2350.44 1219.28 2161.97 1060.34 3411.73 8.72 14.99 NHPC Share in PAT (I) 2086.46 1021.44 1921.80 900.03 3006.67 8.57 13.49
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9 Statement of Assets & Liabilities: Consolidated Awaiting Clearances Equity and Liabilities H1 FY’26 FY’25 Share Holder’s Funds 41239.79 39668.16 Non-Controlling Interest 5800.30 5494.90 Long Term Borrowings 40588.82 35681.73 Long Term Lease Liabilities 110.66 114.02 Deferred Tax Liabilities 3270.57 2904.49 Other Long term Liabilities & Provisions 7625.74 7423.64 Current Liabilities & Provisions 11394.34 10176.42 Regulatory Deferral Account Credit Balances 1532.50 1214.35 Total Equity & Liabilities 111562.72 102677.71 Assets PPE (incl. investment property) 31024.59 17811.84 Capital Work in Progress (including Intangible Asset under Development) 43178.97 50600.82 Right of Use Assets & Intangible Asset 4461.48 4356.18 Non Current Financial Asset 9501.58 9806.73 Non Current Assets (Others) 1600.73 1634.97 Regulatory Asset 7890.36 7205.71 Trade Receivables 6650.63 4,793.15 Cash and Bank Balances 3048.22 2750.94 Current Assets (Others) 4204.44 3715.54 Assets Classified as Held for Sale 1.72 1.83 Total Assets 111562.72 102677.71 ₹ In Crore
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10 Debtors Position: Consolidated Pipelined Projects ₹ In Crore Top Five Debtors* Name 30.09.2025 31.03.2025 Total More than 45 days Total More than 45 days J&K 1224 222 1010 98 Uttar Pradesh 1146 12 813 12 Rajasthan 727 77 457 52 Punjab 632 1 444 0 Madhya Pradesh 600 15 268 10 Total Debtors S. N. Particulars As on 30.09.2025 As on 30.06.2025 As on 31.03.2025 As on 31.12.2024 As on 30.09.2024 1 Trade Receivables 6651 (including unbilled debtors of ₹ 4972 Crs.) 6241 (including unbilled debtors of ₹ 4718 Crs.) 4794 (including unbilled debtors of ₹ 3808 Crs.) 4405 (including unbilled debtors of ₹ 2895 Crs.) 4888 (including unbilled debtors of ₹ 3052 Crs.) 2 More than 45 days* 402 313 230 436 509 * Net of Provision
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11 Incentives Position: Consolidated Pipelined Projects Comparative Incentive YoY (₹ in Crs.) Sl. Particulars FY25-26 FY24-25 Q-1 Q-2 Q-3 Q-4 Total Q-1 Q-2 Q-3 Q-4 Total 1 Secondary Energy 2.53 228.03 230.56 56.40 255.56 109.50 123.86 545.32 2 PAF Incentives 0.50 12.53 13.03 0.24 16.74 35.05 216.76 268.79 3 Deviation Charges 8.54 12.50 21.04 13.61 13.51 14.00 9.53 50.65 G. Total 11.57 253.06 264.63 70.25 285.81 158.55 350.15 864.76 4 PAF 83.68% 78.57% 81.10% 81.76% 88.89% 77.77% 66.84% 78.87% Supplements Supplements Power Station with Highest PBT- Indrasagar (₹ 421 Cr.) NHPC Profit per MW: ₹ 29 lakhs (H1 FY’26), ₹ 30 lakhs (H1 FY’25) NHPC Profit per Employee: ₹ 44 lakhs (H1 FY’26), ₹ 40 lakhs (H1 FY’25) Power Station With Highest PAF: Uri-II (PAF : 103.66%, NAPAF : 80%) Power Station with highest Deviation Charges: Indrasagar (₹ 11 Cr.) Power Station Giving Best Generation : Indrasagar (178% of the annual design energy)
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12 Key Financials :H1 FY’26 Consolidated P&L Consolidated Total Income 7073 EBITDA 4325 EBITDA Margin 61% PAT (owners of parent co.) 2086 Profit Margin 36% Dividend Pay Out (FY‘25) ₹ 1.91 Per Share/ 64% of Profit Balance Sheet Consolidated Share Capital 10045 Net worth 41240 Long Term Debt 40589 Cash & Bank Bal. 3048 Gross Block 59595 CWIP 43179 ₹ In Crore Shareholding pattern as on 30.09.2025 3257 3524 3890 3624 3007 1607 1818 1858 1909 1919 49% 52% 48% 53% 64% 0% 10% 20% 30% 40% 50% 60% 70% 0 1000 2000 3000 4000 5000 2020-21 2021-22 2022-23 2023-24 2024-25 Dividend Pay out Net Profit Dividend DIV. Payout Ratio FII 10.05% GOI-67.40% Individual/HUF- 10.30% DII 11.93% Others-0.32%
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13 NHPC – Key Ratios *Not Annualised **Stock Price (BSE): as on 04.11.2025 ₹. 84.10 & as on 31.03.2025 ₹ 82.25. S. No. Particulars H1 FY’26 FY’25 Particulars Standalone Consolidated Standalone Consolidated 1. PAT (₹ in Cr.) 1997.39 2086.46 3083.98 3006.67 2. Net-worth (₹ in Cr.) 39831.42 41239.79 38348.48 39668.16 3. No. of Equity Shares (In Cr.) 1004.50 1004.50 1004.50 1004.50 4. EPS (₹) 1.99* 2.08* 3.07 2.99 5. Earning Yield(%)** 2.37* 2.47* 3.73 3.64 6. Dividend Per Share (₹) 1.91 7. Dividend Yield(%)** 2.32 8. Book Value per share (₹) 39.65 41.06 38.18 39.49 9. PB Ratio** 2.12 2.05 2.15 2.08 10. PE Ratio** 21.13 20.22 26.79 27.51 11. Return On Net worth (%) 5.11* 5.16* 8.16 7.68 12. Market Capitalisation (₹ in Cr.)** 84478 82620 13. Debt Equity Ratio 1.04 1.14 0.99 1.05
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NHDC Ltd. (Subsidiary) – Snapshots : FY 24 - 25 14 Shareholding Pattern : 51:49 (NHPC : GoMP) Installed Capacity : 1616 MW Design Energy : 2379 MUs Generation : 5575 MUs (FY’25), 4473 MUs (FY’24) PAF : 96.56% (FY’25), 96.43% (FY’24) Revenue from operations : ₹ 1401 Crs. (FY’25), ₹ 1269 Crs. (FY’24) PAT : ₹ 837 Crs. (FY’25), ₹ 812 Crs. (FY’24) 1158 858 1318 1269 1401 190 227 191 232 194 671 513 774 812 837 0 500 1000 1500 2020-21 2021-22 2022-23 2023-24 2024-25 Financial Performance Sales Revenue Other Income PAT 4,236 2,645 5,444 4,473 5,57594.82% 92.74% 97.42% 96.43% 96.56% 90% 92% 94% 96% 98% 0 1,000 2,000 3,000 4,000 5,000 6,000 2020-21 2021-22 2022-23 2023-24 2024-25 Physical Performance Generation (MU) PAF PAF Incentive : ₹ 42 Crs. (FY’25), ₹ 43 Crs. (FY’24) Secondary Energy : ₹ 422 Crs. (FY’25), ₹ 271 Crs. (FY’24) Regulated Equity: ₹ 2046 Crs. (FY 2024-25) Deviation Charges: ₹ 16 Crs. (FY’25), ₹ 21 Crs. (FY’24)
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15 NHDC Ltd. – Financial Highlights : H1 FY 24 - 25 Awaiting Clearances Pipelined Projects Rs. In Crore Particulars FY’26 FY’25 % Change Half Year Qtr-2 Half Year Qtr-2 Full Year Half Year Qtr-2 Actual Generation (in MU) 3926 3309 3503 2519 5575 12.08 31.36 Actual PAF (in %) 96.71 107.08 94.73 103.05 96.56 1.98 4.03 Revenue from Operations 878.44 640.09 793.77 509.59 1401.11 10.67 25.61 Total Income 973.85 687.44 895.07 560.04 1594.64 8.80 22.75 Profit After Tax (PAT) 544.97 407.94 491.46 327.28 836.96 10.89 24.65 PAF Based Incentive 13.03 12.53 16.98 16.74 42.01 -23.26 -25.15 Secondary Energy 227.16 224.63 308.63 252.23 422.33 -26.39 -10.94 Deviation Charges 10.61 6.33 2.68 0.67 15.65 295.90 844.78
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16 NHPC – Consolidated Capacity Addition & Regulated Equity (Hydro) Power Station with highest generation during H1 FY’26 : Indra Sagar (2540 MU, Annual D.E-1423 MU) 0 5000 10000 15000 Current Installed Capacity Cap. Add. 25-26/ Cuml. Cap. Cap. Add. 26-27/ Cuml. Cap. Cap. Add. 27-28/ Cuml. Cap. Cap. Add. 29-30/ Cuml. Cap. Progressive Capacity Addition 7771 MW 13405 MW Ratle : 850 MW 4 units of Subansiri Lower : 1000 MW 8771 MW Teesta VI : 500 MW Kwar : 540 MW 12555 MW 11515 MW Full commissioning of Subansiri Lower by commissioning remaining 4 units : 1000 MW Rangit – IV : 120 MW, Pakal Dul : 1000 MW & Kiru : 624 MW 14161 3914 8951 2775 3227 808 18075 27026 29801 33028 33836 665 1522 472 549 137 0 5000 10000 15000 20000 25000 30000 35000 40000 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 30-31 Progressive Regulated Equity Existing Regu.Eqty./Increase (Aprx.) Cumulative Regulated Equity Expected Additional PAT Note 1 : Consolidated Regulated Equity includes NHPC’ share in subsidiaries as applicable. Note 2 : Regulated Equity of Subansiri Lower Project has been considered in FY 26-27 considering full year benefit. Similarly, Regulated Equity of other projects has also been shown in next financial year after their commissioning considering full year benefit. ₹ In Crore
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17 NHPC – CAPEX F.Y Amount (₹ In Crore) Remarks 2017-18 2722 (Actual) 2018-19 2213 (Actual) 2019-20 4155 (Actual) 2020-21 3568 (Actual) 2021-22 5166 (Actual) 2022-23 6961 (Actual – Consolidated) 2023-24 8652 (Actual – Consolidated) 2024-25 11596 (Actual – Consolidated) 2025-26 13052 (Consolidated Target)
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18 NHPC – Major Highlights during the period NHPC has signed MoUs with the Government of Chhattisgarh and Chhattisgarh State Power Generation Company Limited (CSPGCL) on 06.08.2025 for developing two major Pumped Storage Projects i.e. Kurund (1000 MW) and Hasdeo Bango (800 MW). Central Electricity Authority (CEA) has accorded concurrence to the 1720 MW Kamala Hydroelectric Project in Arunachal Pradesh on 23.05.2025. NHPC has fully commissioned Parbati-II Hydroelectric Project (800 MW) on 15.04.2025. Three units of 200 MW were commissioned on 31.03.2025 and one unit of 200 MW was commissioned on 15.04.2025. Now, the Parbati-II Power Station has become largest operating power station of NHPC. NHPC has fully commissioned 300 MW Karnisar Solar Power project under CPSE Scheme in Bikaner, Rajasthan and declared the Commercial Operation (COD) of the full capacity with effect from 16.10.2025. NHPC has signed an MOU with Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RVUNL), Govt. of Rajasthan on 09.05.2025 for the joint development of Pumped Storage and other Renewable Energy Projects in Rajasthan.
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Hydro Projects At A Glance 19 NHPC-Energising India With Hydropower
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20 NHPC: Hydro Projects Under Construction Name of Project Installed Capacity (MW) Design Energy (MUs) Type of the project CCEA Estimated Cost (₹ in Crore) (Price Level) Anticipated Project Cost (₹ in Crore) (Price Level) Provisional Project Expenditure till Sep’25 (₹ in Crore) Expected Commissioning Schedule Subansiri Lower, (8X250) Assam/ Ar. Pradesh 2000 7422 Run of River with small pondage 6,285.33 (Dec’02) 27,948.52 (at completion cost) 25,031.42 First 4 units (FY 25-26) Remaining 4 units (FY 26-27) Teesta-VI, (4X125) Sikkim 500 2400 Run of River 5,748.04 (July’18) 8,448.74 (Jan’24 PL) 4,681.22 FY 27-28 (Q-3) Dibang, (12X240) Arunachal Pradesh 2880 11223 Hydropower cum flood moderation scheme 31,876.39 (May’21) 31,876.39 (May’21 PL) 3,602.95 FY 31-32 (Q-4) Total (A) 5380 21045 43909.76 68273.65 33315.59
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21 Subsidiary: Hydro Projects Under Construction Name of Project Installed Capacity (MW) Design Energy (MUs) Type of the project CCEA Estimated Cost (₹ in Crore) (Price Level) Anticipated Project Cost (₹ in Crore) (Price Level) Provisional Project Expenditure till Sep’25 (₹ in Crore) Expected Commissioning Schedule Rangit-IV, (3X40) Sikkim 120 508 Run of River 938.29 (Oct’19) 1,888.67 (at completion cost) 1,617.52 FY 26-27 (Q-1) Kiru, (4X156) UT of J&K 624 2272 Run of River 4,287.59 (July’18) 5,409.00 (Apr’23 PL) 2,990.38 FY 26-27 (Q-3) Pakal Dul, (4X250) UT of J&K 1000 3230 Run of River 8112.12 (Mar’13) 12728.00 (at completion cost) 7,727.65 FY 26-27 (Q-3) Kwar, (4x135) UT of J&K 540 1975 Run of River 4526.12 (Sept.20) 4526.12 (Sep’20) 1,258.71 FY 27-28 (Q-4) Ratle, (4X205+30) UT of J&K 850 3137 Run of River 5281.94 (Nov‘18) 5281.94 (Nov'18 PL) 1,044.73 FY 29-30 (Q-2) Total (B) 3134 11122 23146.06 29833.73 14638.99 Total (A+B) 8514 32167 67055.82 98107.38 47954.58
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22 NHPC: Hydro Projects Under Clearance S. N. Projects Installed Capacity (MW) Design Energy (MUs) Cost (₹ In Crore) & PL Status 1 Teesta-IV (4x130) Sikkim 520 2251.89 6113 (Apr’21) • All statutory clearances have been received except forest clearance (stage-II). • CEA has extended the validity of concurrence of project up to 12.05.2027. • NHPC on 23.06.2025 requested Chief Secretary, Govt. of Sikkim for immediate intervention to resolve outstanding FRA compliance matters and expedite the completion of required formalities. • Meetings were convened by Chief Secretary, Govt. of Sikkim on 09.07.2025 & 11.10.2025 with NHPC at Gangtok wherein strategies & modalities for expeditious development of the project were discussed. 2 Dugar (4 x103 + 2x44) Himachal Pradesh 500 1759.85 4250 (Apr’2021) • Defence clearance (validity upto 10.05.2027) and IWT clearance (01.05.2023) are available. Forest clearance is in progress. • The concurrence accorded by CEA to Project on 26.04.2022 was valid up to 25.04.2025 only. Further, NHPC on 24.01.2025 requested CEA to extend the validity of concurrence. • Govt. of Himachal Pradesh on 26.06.2025 has issued authorization/NoC for revalidation of DPR of Project in favour of NHPC. The extension of validity of concurrence from CEA is under process. • NHPC has filed a writ petition in the Hon’ble High Court of Shimla against withdrawal of concessions granted to the project as mentioned in Implementation Agreement. The matter is sub-judice.
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23 NHPC: Hydro Projects Under Clearance S.No. Projects Installed Capacity (MW) Design Energy (MUs) Cost (₹ In Crore) & PL Status 3 Sawalkot (8x225+1x56) UT of J&K 1856 7994.73 26,175.44 (Completion) • Forest Clearance-I accorded by Ministry of Environment, Forest and Climate Change on 10.07.2025 • Defence Clearance has been accorded by Ministry of Defence on 22.07.2025. • CEA on 22.09.2025 vetted the updated cost estimates of the project at completion level for an amount of ₹26,175.44 crores. • Expert Appraisal Committee, Ministry of Environment, Forest and Climate Change discussed the proposal of Environment Clearance of the Project in the 40th meeting held on 26.09.2025 and recommended the same. 4 Uri-I Stage-II (2x120) UT of J&K 240 932.6 2526.79 (Completion) • Defence Clearance has been accorded by Ministry of Defence on 25.02.2022. • DPR has been concurred by CEA on 07.03.2023 amounting to ₹2526.79 crore at completion level. • Forest clearance Stage - I has been accorded by Ministry of Environment, Forest and Climate Change on 14.01.2025. • Environment clearance has been accorded by Ministry of Environment, Forest and Climate Change on 10.03.2025.
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24 NHPC: Hydro Projects Under Clearance S.No. Projects Installed Capacity (MW) Design Energy (MUs) Cost (₹ In Crore) & PL Status 5 Dulhasti Stage-II (2x130) UT of J&K 260 1093.11 2661.66 (Completion) • No forest clearance is required. NOC has been obtained from Forest department on 13.12.2021. • Defence Clearance has been accorded by Ministry of Defence on 03.01.2022. • DPR concurred by CEA amounting to ₹2661.66 crore at completion level. • Environmental Impact Assessment/ Environmental Management Plan (EIA/EMP) reports has been submitted to J&K Pollution Control Committee on 04.07.2025. • Public Hearing successfully conducted on 22.08.2025. • Application for Environmental Clearance has been submitted on 16.10.2025 on Parivesh 2.0 portal. 6 Subansiri Upper (7X215+1X100) Arunachal Pradesh 1605 6131.55 24649 (completion) • DPR has been submitted to CEA on 09.05.2025. Acceptance Meeting held on 23.05.2025. Out of 12 Clearances , 07 Clearances have been obtained. • A board of committee has been constituted to carry out survey and assessment of the affected Land/ Crops and properties • Forest proposal forwarded to Ministry of Environment, Forest and Climate Change on 19.09.2025.
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25 NHPC: Hydro Projects Under Clearance S.No. Projects Installed Capacity (MW) Design Energy (MUs) Cost (₹ In Crore) & PL Status 7 Kamala (8X210+1X40) Arunachal Pradesh 1720 6869.92 23764.01 (completion) • The Arunachal State Govt. has forwarded the proposal to the Secretary, Govt. of India, Ministry of Environment, Forest and Climate Change, New Delhi with recommendation for diversion of Forest Land. • DPR has been concurred by CEA on 23.05.2025 for estimated completion cost of ₹23764.01 crore. • Public hearing has been successfully conducted on 30.10.2025. Total (A) 6701 27033.65 90139.90
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26 Subsidiary: Hydro Project Under Clearance S.No Projects Installed Capacity (MW) Design Energy (MUs) Cost (₹ In Crore) & PL Status 1 Kirthai-II (4x200 + 2x10) 820 2907.48 11746.01 March’25 PL (Completion) •Balance investigation works completed in compliance to DPR concurrence and based on survey & investigations, some modifications were necessitated. Accordingly, Memorandum of Changes (MoC) was submitted by CVPPL in May’ 2024 to CEA. •Defence Clearance was accorded by MoD on 24.03.2022. •CEA has accorded approval to MoC of the project on 01.09.2025. •EAC recommended for grant of Environment Clearance (EC) to the project and MoEF intimated that EC shall be accorded after Stage-I Forest Clearance is granted. •Forest clearance is under process. Total (B) 820 2907.48 11746.01 7521 29941.13 101885.91
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27 NHPC: Hydro Projects Under Survey & Investigation S. No. Projects State Installed Capacity (MW) Status Projects Under FR/DPR Preparation 1 Garba Tawaghat (3x210) Uttarakhand 630 • MoP on 28.12.2023 requested NHPC to take up the matter of implementation of the Project with JHDC. Accordingly, NHPC on 19.01.2024 requested MoP to include nominee of NHPC in the JHDC to take up the matter appropriately in the forum. The response is awaited. • Request of NHPC has been forwarded by Ministry of Power (MOP) to Ministry of External affairs (MEA) for taking up the matter with Embassy of India in Kathmandu to expedite the process of obtaining consent from the Nepalese authorities for carrying Survey & Investigation activities by NHPC. • The extension of validity of Implementation Agreement upto 31.08.2029 is under process at GoUK.
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NHPC: Hydro Projects Under Survey & Investigation (Nepal) S. No. Projects Country Installed Capacity (MW) Status Projects Under PFR/DPR Preparation 2 West Seti Nepal 800 • Drilling work at Dam site is under progress. • Hydroelectricity Investment and Development Company Ltd (HIDCL), Govt. of Nepal has forwarded its Consent for signing of MoU for JV for development of the Project on 14.03.25. The proposal is under approval. • Term of Reference for EIA of the Project has been approved by Ministry of Forest and Environment (MoFE), Govt. of Nepal on 06.08.2025. • Investment Board of Nepal (IBN) granted Technical Clearance to the Final DPR of the project on 29.08.2025. 3 SR6 Nepal 460 • Final DPR of the project has been submitted to the IBN on 12.03.2025. Drilling work at Dam, Power House and HRT is under progress. • HIDCL, Govt. of Nepal has forwarded its Consent for signing of MoU for JV for development of the Project on 14.03.25. The proposal is under approval. • Survey License has been extended by the IBN up to 15th March 2026. Total 1890
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Solar & Wind Projects at a Glance 29 Clean Power For EVERY HOME
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30 NHPC: Solar Project Under Construction S.No Name of Project Capacity (MW) Estimated Capital Cost (₹ in Crore) Expected Commissioning Schedule Tariff (₹/unit) Status of PPA 1 600 MW Grid Connected Solar Power Project under CPSU Scheme, Gujarat 600 4194.89 2026-27 (Transmission system for power evacuation at KPS-1, Khavda ISTS Sub-station is likely to be ready by Nov- 2026, project anticipated to be commissioned by November, 2026) 2.45 Power Usage Agreement signed with DISCOMs (Telangana) for 500 MW on 28.03.2023 and with PSPCL (Punjab) for 100 MW on 16.05.2023. 2 100 MW Grid Connected Solar Power Project under CPSU Scheme, Andhra Pradesh. 100 567.34 December, 2025 2.45 Power Usage Agreement signed with WB Discom for 100 MW Project on 23.11.2022. 3 Floating Solar Kerala (50MW), West Kallada 50 255.92 March, 2026 3.04 (ceiling tariff) Initiated Draft PPA Exchanged between NHPC and KSEB on 10.07.2024 and PPA approved by KSERC on 01.01.2025 and signing of finalized PPA is expected shortly.
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31 NHPC: Solar Project Under Construction S.No Name of Project Capacity (MW) Estimated Capital Cost (₹ in Crore) Expected Commissioning Schedule Tariff (₹/unit) Status of PPA 4 40 MW Solar power project in Ganjam, Odisha 40 147.91 Feb , 2026 2.75 Supplementary PPA signed with GRIDCO on 29.06.2024. 5 200 MW Grid Connected Solar photovoltaic Power Projects (stage-1) located in 600 MW Solar Park at Khavda, Gujarat. 200 913.00 May, 2026 2.73 PPA signed with GUVNL on 10.08.2023 6 200 MW Grid Connected Solar photovoltaic Power Projects in GSECL RE Park (stage-3) at Khavda, Gujarat. 200 822.41 March, 2026 2.66 PPA signed with GUVNL on 27.06.2024 Total 1190 6901.47
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32 Subsidiary: Solar Projects under Tender and pipeline Sl. No . Name of Project Capacity (MW) Estimated Capital Cost Expected Commissio ning Schedule Tentative Tariff (Rs./unit) Status of PPA 1 1200 MW Solar Park, Jalaun (U.P.) under UMREPP (Subsidiary - BSUL) - 796.96 (Park developme nt cost only) December 2026 (Ist Phase- 600MW) & March 2027 (IInd Phase- 600MW) 2.80 • Term of Reference with REMC was signed on 30.01.2023 for procuring 1405 MU of energy at ₹2.80/unit from the solar park under the optimum scheduling mode. • BSUL also requested REMCL for procurement of balance power on: 23.12.2024. In this regard, a meeting held with CEO, REMCL at BSUL HQ, Lucknow on 04.08.2025. Consent is awaited. • BSUL vide various letters requested UPNEDA and UPPCL for providing consent for procurement of balance power (1591 MU) on the tariff, derived through tariff based competitive bidding. Consent is awaited from UPPCL. • CEO, BSUL met Director (Planning), UPRVUNL on 08.09.2025 and urged for support in offtake of power from Solar Park to meet their RGO compliance. 2 Mirzapur Solar Project (Subsidiary - BSUL) 100 384.15 December 2026 2.90 • BSUL, through various letters, has requested UPNEDA and UPPCL for providing consent for procurement of power from Park. Consent of UPPCL is awaited. • BSUL is also exploring third party open access buyer. • BSUL is planning to bid in tender of NCRTC, invited for 110 MW captive project and necessary approval process has been initiated. 3 Madhogarh Solar Project (Subsidiary - BSUL) 45 183.76 December 2026 2.99 • BSUL, through various letters, has requested UPNEDA and UPPCL to provide consent for the procurement of power from the project. Consent of UPPCL is awaited. • CEO, BSUL met Director (RS), UPMRC on 25.06.2025 regarding procurement of power by UPMRC from project on open access, a draft TOR was also provided and consent of UPMRC is requested. • UPMRC on 14.08.2025 intimated about a proposal sent to DASE, GoUP regarding exemption from Open Access Charges & Transmission Losses. • BSUL on 23.09.2025 requested UPNEDA for necessary amendment in Solar Policy 2022 of GoUP for exemption from CSS & Transmission Losses to UPMRC for procurement of power from BSUL projects under open access mode. Total 145 1364.87 Under Pipeline
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33 NHPC: Solar Project Under Construction (As Intermediary Procurer) S.No. Type of Project Installed Capacity (MW) Current Status 1 Projects through Solar Power Developers, Rajasthan 2000 • PPA & PSA signed. • 700 MW out of 2000 MW already commissioned. 2 Solar (2023-24 – Solar-I) 3000 • PPA & PSA signed. 3 FDRE (Firm & Dispatchable (RTC) RE) Power (2023-24 – FDRE-I) 1400 • PPA & PSA signed. Total 6400
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34 NHPC: Solar Projects under PPA/PSA (As Intermediary Procurer) S.No. Type of Project Installed Capacity (MW) Current Status 1 Solar (2024-25 – Solar-II & Solar-III) 4570 • Letter of Award issued. • PPA & PSA to be signed. 2 Solar & Wind Hybrid (2023-24 - Hybrid-I) (2024-25 – Hybrid-II) 3360 • Letter of Award issued. • PPA & PSA signed for 300 MW. • Obtaining consent of buying entities for signing of PSA for balance capacity under exploration / advance stage. PPA shall be signed after signing of PSAs. 3 FDRE (Firm & Dispatchable (RTC) RE) Power (2023-24 – FDRE-II) (2024-25 – FDRE-III) 4450 • Letter of Award issued. • PPA & PSA signed for 650 MW. • Obtaining consent of buying entities for signing of PSA for balance capacity under exploration / advance stage. PPA shall be signed after signing of PSAs. 4 Solar with storage (2024-25 – Solar+Storage 2 Hrs) 2400 • Letter of Award issued. • PPA & PSA to be signed. 5 Solar with storage (2024-25 – Solar+Storage 4 Hrs) 1940 • Letter of Award issued. • PPA & PSA to be signed. Total 16720
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35 NHPC: Solar Projects under BESPA/BESSA (As BIA) S.No. Type of Project Installed Capacity (MWh) Current Status 1 500 MWh – KSEB, Kerala (4 Hours Storage Single Cycle per day) 500 • LOA issued on 09.07.2025. • Capacity charges range – Rs. 4,34,000 to Rs. 4,57,000/MW/Month • BESSA and BESPA signed. • Projects to be completed by Oct-2026. 2 1000 MWh – APTRANSCO, Andhra Pradesh (2 Hours Storage Two Cycles per day) 1000 • LOA issued on 08.07.2025. • Capacity charges range – Rs. 2,08,000 to Rs. 2,22,000/MW/Month • BESSA and BESPA signed. • Projects to be completed by Jan-2027. Total 1500
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New Initiatives 36 Green Power, Clean Power Pumped Storage Schemes
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37 New Initiatives Pump Storage Project Scheme (1) Maharashtra S.No Name/Place of PSP Installed Capacity (MW) Present Status 1 Savitri 2400 PFR of Savitri PSP has been prepared and submitted to Govt. of Maharashtra & CEA. The capacity of project has been revised to 2400 MW. DPR preparation of Savitri PSP is under progress. NHPC on 01.05.2025 has submitted Layout Finalization Chapters to HPP&I Division, CEA. Hydel Civil Design Aspects (HCD) of Layout finalization chapter has been approved by CEA on 24.10.2025 PFR of Kengadi PSP has been prepared and submitted to Govt. of Maharashtra. The capacity of project has been revised to 600 MW and further revised to 1050 MW. PFR of Kalu PSP has been prepared and submitted to Government of Maharashtra. The capacity of project was revised to 1350 MW and further revised to 1800 MW. Layout finalization chapter of Kalu PSP has been submitted to CEA on 29.09.2025. DPR is under preparation. 2 Kengadi 1050 3 Kalu 1800 4 Jalond 2400 Total 7650
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38 New Initiatives Pump Storage Project Scheme (2) Andhra Pradesh (under JV mode with APGENCO) S.No Name/Place of PSP Installed Capacity (MW) Description 5 Rajupalem 800 NHPC and APGENCO formed a JV Company, APGENCO NHPC Green Energy Ltd (ANGEL), on 23.01.2025 to develop renewable energy projects. Five Pumped Storage Projects namely Rajupalem (800 MW), Yaganti (1000 MW), Gadikota (1200 MW), Aravetipalli (1320 MW) & Deenepalli (750 MW) have been subsequently transferred to JVC “ANGEL” and are being implemented by the JVC. Rajupalem PSP (800 MW):- The DPR is being prepared by M/s Tata Consultancy Engineers Limited (TCE) and is expected to be submitted by April 2026. Yaganti PSP (1000MW) :- The DPR preparation is in progress by M/s Tata Consultancy Engineers Ltd. and is expected to be submitted by January 2026. Gadikota PSP (1200 MW) :- The DPR preparation is in progress by M/s Indo Canadian Consultancy Services Ltd. DPR submission is likely by Dec.’2025. Aravetipalli PSP(1320 MW) :- Work of DPR preparation was awarded to M/s Deltacons Projects (India) Pvt Ltd by ASPCL but terminated prior to transfer to ANGEL. New consultant to be engaged. Deenepalli PSP (750 MW) :- Techno-commercial Feasibility report of Deenepalli PSP has been prepared by M/s Deltacons Projects (India) Pvt Ltd. New consultant to be engaged . 6 Yaganti 1000 7 Gadikota 1200 8 Aravetipalli 1320 9 Deenepalli 750 Total 5070
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39 New Initiatives Pump Storage Project Scheme (3) Madhya Pradesh (Through our subsidiary NHDC) S.No Name/Place of PSP Installed Capacity (MW) Present Status 10 Indrasagar- Omkareswar 640 MOEF&CC has granted Terms of Reference (ToR) for the project Indirasagar- Omkareshwar Open Loop Pumped Storage Project (640 MW) by M/s NHDC Limited for preparation of EIA/ EMP reports. All DPR Chapters have been submitted to CEA/CWC on 27.06.2025. Concurrence of DPR from CEA is awaited. NOC obtained from Deptt. of Mines, Khandwa and ASI, Bhopal on 09.07.2025 & 08.09.2025 respectively. NOC for Defence Clearance obtained on 08.10.2025. Clearance of E&M Cost received on 10.10.2025. Construction Schedule Clearance obtained on 15.10.2025. Total 640
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40 New Initiatives Pump Storage Project Scheme (4) Odisha S.No Name/Place of PSP Installed Capacity (MW) Present Status 11 Masinta 1000 PFR of Masinta PSP (1000 MW) submitted to GRIDCO Limited on 30.08.2024. Preparation of DPR of Masinta PSP is under progress. NHPC on 17.07.2025 requested GRIDCO for formal Allotment of the project and Provisional Allotment of the same has been made by Energy Department, Government of Odisha on 08.10.2025. Hydel Civil Design Aspects of Layout Finalization Chapter of the project has been approved by CEA on 31.10.2025. 12 Harbhangi 1020 GRIDCO on 16.12.2024 shared the details of Two Potential PSP sites (Harbhangi & Badanalla stream) and agreed on NHPC proposal for conducting detailed feasibility study. NHPC has conveyed its acceptance of the above two PSP sites. PFR of Harbhangi PSP and Badanalla PSP submitted to GRIDCO on 30.08.2025 and 09.09.2025 respectively. 13 Badanalla 800 Total 2820
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41 New Initiatives Pump Storage Project Scheme (5) Gujarat S.No Name/Place of PSP Installed Capacity (MW) Present Status 14 Kuppa 900 Under the aegis of “Vibrant Gujarat”, NHPC signed an MoU with Gujarat Power Corporation Limited, Government of Gujarat for investment in Kuppa PSP on 03.01.2024. GIPCL (Gujarat Industries Power Company Ltd.) vide email dated 29.5.2024 has requested NHPC for a joint site visit of 05 nos. PSPs site (Kaprada-1300MW, Wilshon Ghat-1000MW, Ganiyabar-830MW, Umedpura-660MW, Dobachapura-500MW) aggregating to 4290MW. PFR of Kuppa PSP (900 MW) submitted to Govt. of Gujarat on 31.08.2024. The preparation of DPR of the Kuppa PSP is under progress , Field survey work has been completed. The survey works commenced in Dec, 2024. However, the same was suspended due to protest by local villagers, the matter is being pursued with the local authorities to resolve the issue. Total 900
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42 New Initiatives Pump Storage Project Scheme (7) Rajasthan & Chhattisgarh S.No Name/Place of PSP Installed Capacity (MW) Present Status 15 Paharkalan (Rajasthan) 1000 NHPC has signed a MoU on 29.09.2024 with the Govt. of Rajasthan with the intent to establish the PSPs, Renewable Energy (solar/Floating Solar/Wind) Projects and the Battery Energy Storage system in the state of Rajasthan. NHPC re-entered in project specific MoU (4 projects - 3540 MW) with Govt. of Rajasthan for the development of PSPs, Renewable Energy (solar/Floating Solar/Wind) Projects and the Battery Energy Storage system in the state of Rajasthan on 06.12.2024. As per Preliminary Desk study by NHPC, 2 PSP sites totaling 2000 MW namely Paharkalan PSP (1000 MW) and Singli PSP (1000 MW) are promising and PFRs of both the projects have been submitted to RVUNL on 30.06.2025. 16 Singli (Rajasthan) 1000 17 Kurund (Chhatisgarh) 1000 NHPC has signed MoUs with the Government of Chhattisgarh and Chhattisgarh State Power Generation Company Limited (CSPGCL) on 06.08.2025 for developing two major Pumped Storage Projects i.e. Kurund (1000 MW) and Hasdeo Bango (800 MW).18 Hasdeo Bango (Chhatisgarh) 800 Total 3800
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43 New Initiatives Pump Storage Project Scheme (6) Punjab, ONGC & IOCL S.No Name/Place of PSP Installed Capacity (MW) Present Status ONGC NHPC has signed MOU with ONGC on 15.12.2023 for cooperation in exploration and development of Pumped Hydro Storage and other Renewable Projects in the country. Finalization of Joint Venture agreement for formation of JV is under process. Punjab NHPC has signed MOU with Punjab State Power Corporation Limited (PSPCL), Govt. of Punjab on 14.03.2024 for development of Pumped Storage Projects. IOCL NHPC has signed MOU with IOCL on 27.06.2025 for setting up hydroelectric/pumped storage /other renewable energy projects in Nepal/any overseas country/India. Grand Total 20880
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Projects under Operation 44 Green Power, Clean Power Hydro Power Solar Power Wind Power
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45 NHPC: Projects under Operation S. No NHPC Project & State/UT Installed Capacity (MW) Design Energy (MU) Year of comm. Capital Cost as on 31.03.25 Tariff (24-25) (₹ /Kwh) Type of the project 1 Baira Siul, (3x60) Himachal Pradesh 180 661.09 1981 (Sep) 389.94 2.84 Run of River (ROR) with small pondage 2 Loktak, (3x35) Manipur 105 448.00 1983 (May) 187.12 3.89 Storage 3 Salal, (6x115) UT of J&K 690 3082.00 1987 (Nov) 1048.95 2.64 ROR 4 Tanakpur, (3x40) Uttarakhand 94.20 452.19 1992 (Apr) 440.79 5.35 ROR 5 Chamera-I, (3x180) Himachal Pradesh 540 1664.56 1994 (Apr) 2111.99 2.28 Storage 6 Uri-I, (4x120) UT of J&K 480 2587.38 1997 (Apr) 3472.05 2.36 ROR 7 Rangit, (3x20) Sikkim 60 338.61 2000 (Feb) 522.76 4.03 ROR with small pondage 8 Chamera-II, (3x100) Himachal Pradesh 300 1499.89 2004 (Feb) 2035.91 2.41 ROR with small pondage 9 Dhauliganga-I, (4x70) Uttarakhand 280 1134.69 2005 (Oct) 1770.33 2.70 ROR with small pondage. 10 Dulhasti, (3x130) UT of J&K 390 1907.00 2007 (Mar) 5237.46 5.11 ROR with small pondage 11 Teesta-V, (3x170) Sikkim 510 2572.70 2008 (Mar) 3090.25 1.97 ROR with small pondage Hydro
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46 NHPC: Projects under Operation S.No. NHPC Project Installed Capacity (MW) Design Energy (MU) Year of Comm. Capital Cost as on 31.03.25 (₹ in Crore) Tariff (24-25) (₹ /Kwh) Type of the project 12 Sewa-II, (3x40) UT of J&K 120 533.52 2010 (Jun) 1157.23 4.60 ROR with small pondage 13 Chamera-III , (3x77) Himachal Pradesh 231 1108.17 2012 (Jun) 2233.61 4.18 ROR with small pondage 14 Chutak , (4x11) UT of Ladakh 44 212.93 2013 (Jan) 1031.29 9.91 ROR 15 TLDP-III, (4x33) West Bengal 132 594.07 2013 (Mar) 2122.81 5.59 ROR with small pondage 16 Nimoo Bazgo, (3x15) UT of Ladakh 45 239.33 2013 (Jan) 1129.38 10.61 ROR with small pondage 17 Uri –II, (4x60) UT of J&K 240 1123.77 2014 (Feb) 2481.25 5.27 ROR 18 Parbati-III, (4x130) Himachal Pradesh 520 1963.29 2014 (May) 2758.11 2.72 ROR with small pondage 19 TLDP IV, (4x40) West Bengal 160 717.72 2016 (Aug) 1862.84 4.35 ROR with small pondage 20 Kishanganga, (3x110) UT of J&K 330 1712.96 2018(Mar) 5844.61 4.94 ROR with Pondage 21 Parbati-II, (4x200) UT of J&K 800 3074.60 2025(Apr) 13000.58 Tariff petition filed. Notification is awaited. ROR with Pondage Total-A 6251.20 27628.47 53929.26 4.02 Hydro
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47 NHPC: Projects under Operation Renewable Energy S.No Project Installed Capacity (MW) Design Energy (MU) Year of Comm. Capital Cost as on 31.03.25 (₹ in Crore) Tariff (24-25) (₹ /Kwh) Place of Project 1 Wind Power 50 94.25 2016 330.40 3.67 Jaisalmer (Rajasthan) 2 Solar Power 50 105.96 2018 290.59 4.41 Theni/Dindigul (Tamilnadu) 3 Solar Power 300 749.09 2025 1677.12* 2.45 Karnisar, Bikaner (Rajasthan) Total-B 400 949.30 2298.11 Sub Total Standalone(A+B) 6651.20 28577.77 56227.37 4.00 Subsidiary: Projects under Operation Hydro S.No Project Installed Capacity (MW) Design Energy (MU) Year of Comm. Capital Cost as on 31.03.2025 Tariff 24-25 (Rs./Kwh) Type of the project 1 Indrasagar, (8x125) Madhya Pradesh 1000 1423.26 2005 4955.32 3.71 Storage 2 Omkareshwar, (8x65) Madhya Pradesh 520 736.45 2007 3094.57 4.65 Storage Total-A 1520 2159.71 8049.89 4.03 * Current estimated capital cost
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48 Subsidiary: Projects under Operation Renewable Energy S.No Project Installed Capacity (MW) Design Energy (MU) Year of Comm. Capital Cost as on 31.03.2025 Tariff 24-25 (₹/unit) Place of Project 1 Solar Power Project, Kalpi (Subsidiary - BSUL) 65 147.34 2023-24 350.46 2.68 Jalaun District (Uttar Pradesh) 2 Ground Mounted Solar PV Plant (Subsidiary – NHDC) 8 14.72 2023-24 49.16 3.22 Sanchi (Madhya Pradesh) 3 Omkareshwar Floating Solar Park (Subsidiary – NHDC) 88 204.58 2024-25 566.48 3.22 Omkareshwar (Madhya Pradesh) 4 Ground Mounted Solar Power Project in Central University of Rajasthan (Subsidiary - NREL) 0.70 1.53 2024-25 4.43 4.45 Ajmer (Rajasthan) Total-B 161.70 368.17 970.53 Sub Total Subsidiary (A+B) 1681.70 2527.88 9020.42 Grand Total (Standalone+ Subsidiary) 8332.90 31105.65 65247.79
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49 NHPC-Energising India With Hydropower