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Salal Power Station, J&K Clean Power For Every Home INVESTOR PRESENTATION FINANCIAL YEAR 25 - 26 : December 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 8833 MW installed capacity (8271 MW Hydro & 562 MW Renewable Energy) through 31 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 (8,271 MW out of 50,915 MW*). • Consultancy business. • Power trading business. • Exposure to international business opportunities. * Source-CEA as on 31.12.2025 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 (8,833 MW) Projects under construction (9,204 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 – 24 Nos. (8271 MW) • Solar & Wind – 7 Nos. (562 MW) • Total – 31 Nos. (8833 MW) CONSOLIDATED PHYSICAL SNAPSHOT Projects Under Construction • Hydro – 8 Nos. (8014 MW) • Solar – 6 Nos. (1190 MW) • Total – 14 Nos. (9204 MW) Awaiting Clearances Projects Awaiting Clearances & Approval : - • Hydro – 9 Nos. (10618 MW) • Solar – 3 Nos. (145 MW) • Total – 12 Nos. (10763 MW) Under Survey &Investigation • Projects under Survey & Investigation - Hydro – 3 Nos. (1890 MW) • Pump Storage – 17 Nos. (19430 MW) • Total – 20 Nos. (21320 MW) Hydro Power is 10% (50915 MW) of All India Installed Capacity (513730 MW*). NHPC Contribution is 16% of Installed Hydro Power On Consolidated Basis. *Source-CEA as on 31.12.2025 Status Capacity (MW) Operational Projects 8,833 Projects Under Construction 9,204 Projects Under Clearance 10,763 Projects Under Survey & Investigation 21,320 Total 50,120
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6 NHPC ’ s Track Record – A Ten Year Digest Nation Building Through Sustainable Power Development Actual 9M FY’26 Actual 9M FY’25 •Country Generation 1386 BU •Share of Hydro Power 142 BU (10%) •Share of NHPC (Hydro) Consolidated 25276 MU (18%) •Country Generation 1379 BU •Share of Hydro Power 126 BU (9%) •Share of NHPC (Hydro)- Consolidated 22170 MU (18%) 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.92% Other Income 8% Revenue 9M FY’26 Employee Benefit Expenses 16% Generation Expenses 10% Depreciation 19% Finance Cost 12% Other Expenses, 43% Expenditure 9M 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 Nine Months Qtr-3 Nine Months Qtr-3 Full Year Nine Months Qtr-3 Revenue from Operation 8799.76 2220.73 8032.89 2286.76 10379.86 9.55 -2.89 Other Income 765.81 272.10 1024.01 330.13 1349.45 -25.21 -17.58 Total Income (A) 9565.57 2492.83 9056.90 2616.89 11729.31 5.62 -4.74 Generation Expenses 717.78 125.86 701.26 103.90 799.16 2.36 21.14 Emp. Benefits Expense 1096.37 346.41 1402.45 686.70 1823.60 -21.82 -49.55 Finance Cost 848.74 310.25 1201.03 655.50 1188.94 -29.33 -52.67 Depre. & Amort. Expense 1333.84 456.61 878.30 296.71 1193.04 51.87 53.89 Other Expenses 2945.63 1536.86 1499.45 474.70 2237.18 96.45 223.75 Total Expenditure(B) 6942.36 2775.99 5682.49 2217.51 7241.92 22.17 25.19 Share of Net Profit of Associates (C) 1.67 0.96 2.25 1.19 2.36 -25.78 -19.33 PBT(Before RRA) (D=A-B+C) 2624.88 -282.20 3376.66 400.57 4489.75 -22.26 -170.45 Rate Regu. Income (E) 1542.58 1176.08 223.75 33.79 277.44 589.42 3380.56 PBT (After RRA) (F=D+E) 4167.46 893.88 3600.41 434.36 4767.19 15.75 105.79 Tax (G) 1496.42 573.28 1108.31 104.23 1355.46 35.02 450.01 Profit After Tax (H=F-G) 2671.04 320.60 2492.10 330.13 3411.73 7.18 -2.89 NHPC Share in PAT (I) 2305.58 219.12 2153.03 231.23 3006.67 7.09 -5.24
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9 Statement of Assets & Liabilities: Consolidated Awaiting Clearances Equity and Liabilities 9M FY’26 FY’25 Share Holder’s Funds 41465.47 39668.16 Non-Controlling Interest 6061.77 5494.90 Long Term Borrowings 42395.40 35681.73 Long Term Lease Liabilities 172.23 114.02 Deferred Tax Liabilities 3713.86 2904.49 Other Long term Liabilities & Provisions 7769.43 7423.64 Current Liabilities & Provisions 11842.38 10176.42 Regulatory Deferral Account Credit Balances 1961.95 1214.35 Total Equity & Liabilities 115382.49 102677.71 Assets PPE (incl. investment property) 43881.34 17811.84 Capital Work in Progress (including Intangible Asset under Development) 32993.78 50600.82 Right of Use Assets & Intangible Asset 4504.45 4356.18 Non Current Financial Asset 9483.70 9806.73 Non Current Assets (Others) 1817.24 1634.97 Regulatory Asset 9495.89 7205.71 Trade Receivables 2328.51 2655.75 Cash and Bank Balances 2910.59 2750.94 Current Assets (Others) 7964.91 5852.94 Assets Classified as Held for Sale 2.08 1.83 Total Assets 115382.49 102677.71 ₹ In Crore
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10 Debtors Position: Consolidated Pipelined Projects ₹ In Crore Top Five Debtors* Name 31.12.2025 31.03.2025 Total More than 45 days Total More than 45 days J&K 683 203 583 98 Uttar Pradesh 330 8 415 12 Rajasthan 240 69 242 52 Punjab 240 15 182 10 Madhya Pradesh 181 1 381 0 Total Debtors S. N. Particulars As on 31.12.2025 As on 30.09.2025 As on 30.06.2025 As on 31.03.2025 As on 31.12.2024 1 Trade Receivables 2329 (including unbilled debtors of ₹ 920 Crs.) 3466 (including unbilled debtors of ₹ 1788 Crs.) 3452 (including unbilled debtors of ₹ 1929 Crs.) 2656 (including unbilled debtors of ₹ 1670 Crs.) 2651 (including unbilled debtors of ₹ 1141 Crs.) 2 More than 45 days* 380 402 313 230 436 * 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 2.53 228.03 230.27 460.83 56.40 255.56 109.50 123.86 545.32 2 PAF Incentives 0.50 12.53 38.58 51.61 0.24 16.74 35.05 216.76 268.79 3 Deviation Charges 8.54 12.50 13.34 34.38 13.61 13.51 14.00 9.53 50.65 G. Total 11.57 253.06 282.19 546.82 70.25 285.81 158.55 350.15 864.76 4 PAF 83.68% 78.57% 75.56% 79.27% 81.76% 88.89% 77.77% 66.84% 78.87% Supplements Supplements Power Station with Highest PBT- Indrasagar (₹ 578 Cr.) NHPC Profit per MW: ₹ 31 lakhs (9M FY’26), ₹ 34 lakhs (9M FY’25) NHPC Profit per Employee: ₹ 49 lakhs (9M FY’26), ₹ 46 lakhs (9M FY’25) Power Station With Highest PAF: Omkareshwar (PAF : 100.28%, NAPAF : 90%) Power Station with highest Deviation Charges: Indrasagar (₹ 18 Cr.) Power Station Giving Best Generation : Indrasagar (238% of the annual design energy)
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12 Key Financials :9M FY’26 Consolidated P&L Consolidated Total Income 9566 EBITDA 4810 EBITDA Margin 50% PAT (owners of parent co.) 2306 Profit Margin 30% Dividend Pay Out (FY‘25) ₹ 1.91 Per Share/ 64% of Profit Balance Sheet Consolidated Share Capital 10045 Net worth 41465 Long Term Debt 42395 Cash & Bank Bal. 2911 Gross Block 72829 CWIP 32994 ₹ In Crore Shareholding pattern as on 31.12.2025 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 10.39% GOI-67.40% Individual/HUF- 10.21% DII 11.70% Others-0.30%
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13 NHPC – Key Ratios *Not Annualised **Stock Price (BSE): as on 03.02.2026 ₹. 78.48 & as on 31.03.2025 ₹ 82.25. S. No. Particulars 9M FY’26 FY’25 Particulars Standalone Consolidated Standalone Consolidated 1. PAT (₹ in Cr.) 2290.26 2305.58 3083.98 3006.67 2. Net-worth (₹ in Cr.) 40133.29 41465.47 38348.48 39668.16 3. No. of Equity Shares (In Cr.) 1004.50 1004.50 1004.50 1004.50 4. EPS (₹) 2.28* 2.30* 3.07 2.99 5. Earning Yield(%)** 2.91* 2.93* 3.73 3.64 6. Dividend Per Share (₹) 1.91 7. Dividend Yield(%)** 2.32 8. Book Value per share (₹) 39.95 41.28 38.18 39.49 9. PB Ratio** 1.96 1.90 2.15 2.08 10. PE Ratio** 25.82 25.59 26.79 27.51 11. Return On Net worth (%) 5.84* 5.68* 8.16 7.68 12. Market Capitalisation (₹ in Cr.)** 78833 82620 13. Debt Equity Ratio 1.05 1.17 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 : 9M FY 24 - 25 Awaiting Clearances Pipelined Projects Rs. In Crore Particulars FY’26 FY’25 % Change Nine Months Qtr-3 Nine Months Qtr-3 Full Year Nine Months Qtr-3 Actual Generation (in MU) 5239 1314 4636 1134 5575 13.01 15.87 Actual PAF (in %) 98.14 100.97 96.60 100.34 96.56 1.54 0.63 Revenue from Operations 1228.16 349.72 1113.64 319.87 1401.11 10.28 9.33 Total Income 1374.17 400.32 1260.57 365.50 1594.64 9.01 9.53 Profit After Tax (PAT) 754.43 209.46 696.06 204.60 836.96 8.39 2.38 PAF Based Incentive 32.37 19.34 32.04 15.06 42.01 1.03 28.42 Secondary Energy 423.71 196.56 378.98 70.35 422.33 11.80 179.40 Deviation Charges 17.51 6.90 11.08 8.40 15.65 58.03 -17.86
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16 NHPC – Consolidated Capacity Addition & Regulated Equity (Hydro) Power Station with highest generation during 9M FY’26 : Indra Sagar (3392 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. 28-29/ Cuml. Cap. Cap. Add. 29-30/ Cuml. Cap. Progressive Capacity Addition 8271 MW 12905 MW Ratle : 850 MW 2 units of Subansiri Lower : 500 MW 8771 MW Kwar : 540 MW 12055 MW Teesta VI : 500 MW 13405 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 567 11160 693 808 2535 18075 18642 29802 30495 31303 33838 665 96 1897 118 137 431 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 29-30 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 27-28 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 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 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 commissioned 2 units of Subansiri Lower Hydroelectric Project (250 MW each), the largest hydro power station of the country on 23.12.2025 and 01.02.2026 respectively marking a significant achievement in country’s hydro power sector. NHPC has fully commissioned Parbati-II Hydroelectric Project (800 MW) on 15.04.2025. Three units of 200 MW were commissioned on 01.04.2025 and one unit of 200 MW was commissioned on 16.04.2025. Currently, Parbati-II Power Station is the largest fully commissioned operating power station of NHPC. 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).
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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 Dec’25 (₹ in Crore) Expected Commissioning Schedule Subansiri Lower, (8X250) Assam/ Ar. Pradesh 1500 7422 Run of River with small pondage 6,285.33 (Dec’02) 27,948.52 (at completion cost of full project) 25,691.22 2 units already commissioned Next 2 units (Q4 FY 25-26) • Balance 4 units (upto Q3 FY 26-27) Teesta-VI, (4X125) Sikkim 500 2400 Run of River 5,748.04 (July’18) 8,448.74 (Jan’24 PL) 4,905.70 FY 29-30 (Q-2) Dibang, (12X240) Arunachal Pradesh 2880 11223 Hydropower cum flood moderation scheme 31,876.39 (May’21) 31,876.39 (May’21 PL) 3,825.55 FY 31-32 (Q-4) Total (A) 4880 21045 43909.76 68273.65 34,422.47
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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 Dec’25 (₹ in Crore) Expected Commissioning Schedule Rangit-IV, (3X40) Sikkim 120 508 Run of River 938.29 (Oct’19) 1888.67 (at completion cost) 1703.06 FY 26-27 (Q-1) Kiru, (4X156) UT of J&K 624 2272 Run of River 4287.59 (July’18) 5409.00 (Apr’23 PL) 3268.94 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) 8327.77 FY 26-27 (Q-3) Kwar, (4x135) UT of J&K 540 1975 Run of River 4526.12 (Sept.20) 4526.12 (Sep’20) 1394.71 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) 1393.68 FY 28-29 (Q-3) Total (B) 3134 11122 23146.06 29833.73 16088.16 Total (A+B) 8014 32167 67055.82 98107.38 50510.63
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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. • CEA extended the validity of concurrence to the project for 02 more years i.e. up to 25.04.2027. • 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 26,196.26 Completion) • Forest Clearance-I accorded by Ministry of Environment, Forest and Climate Change (MoEF&CC) on 10.07.2025 • Defence Clearance has been accorded by Ministry of Defence on 22.07.2025. • Environmental Clearance has been accorded by Ministry of Environment, Forest and Climate Change on 17.11.2025. 4 Uri-I Stage-II (2x120) UT of J&K 240 932.6 2557.52 (Completion) • Defence Clearance has been accorded by Ministry of Defence on 25.02.2022. • Forest Clearance Stage - I has been accorded by MoEF&CC on 14.01.2025. • Environment clearance has been accorded by MoEF&CC on 10.03.2025. • Nodal Officer (FCA) vide letter dated 19.01.2026 forwarded and recommended the forest proposal to Commissioner Secretary, Deptt. Of Forests, Environment & Ecology, Govt. of J&K for further submission to MoEF&CC for accord of Forest Clearance Stage - II. • MOU with JKSPDC was already extended upto 02.01.2026. NHPC vide letter dated 10.12.2025 has requested JKSPDC for the extension of MoU for further one year or till the signing of the Implementation Agreement, whichever is earlier, on the same terms and conditions. Extension of MoU awaited.
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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 Clearance has been accorded by MoEF&CC on 07.01.2026. • MOU with Jammu & Kashmir State Power Development Corporation Limited (JKSPDC) was already extended upto 02.01.2026. NHPC vide letter dated 10.12.2025 has requested JKSPDC for the extension of MoU for further one year or till the signing of the Implementation Agreement, whichever is earlier, on the same terms and conditions. Extension of MoU awaited. 6 Subansiri Upper (7X215+1X100) Arunachal Pradesh 1605 6131.55 24643.99 (completion) • DPR has been submitted to CEA on 09.05.2025. Acceptance Meeting held on 23.05.2025. All 12 clearances have been obtained. • NOC/Defence clearance has been received on 02.04.2025. • A board of committee has been constituted to carry out survey and assessment of the affected Land/ Crops and properties. • Forest proposal forwarded to MoEF&CC 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 26069.50 (completion) • The Arunachal State Govt. has forwarded the proposal to the Secretary, Govt. of India, MoEF&CC, New Delhi with recommendation for diversion of Forest Land. • NOC/Defence clearance has been received on 02.04.2025. • DPR has been concurred by CEA on 23.05.2025. • Environmental Clearance proposal along with Final EIA report submitted at Parivesh of MoEF&CC on 06.01.2026. • PIB meeting held on 06.01.2026 and PIB recommended the proposal of Kamla HEP at completion level for ₹ 26069.50 crore. The project would be executed by a Joint Venture Company to be formed between NHPC & Govt. of Arunachal Pradesh. • Draft CCEA Note has been furnished to MoP on 24.01.2026.
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26 NHPC: Hydro Projects Under Clearance S.No. Projects Installed Capacity (MW) Design Energy (MUs) Cost (₹ In Crore) & PL Status 8 Etalin (10X307+1X19. 60 +1X7.4) Arunachal Pradesh 3097 12260.43 29385.18 (at completion) • In Dec’2008, Govt. of Arunachal Pradesh allotted the project to Etalin Hydro Electric Power Company Limited (EHEPCL), a JV of Hydro Power Development Corporation of Arunachal Pradesh Limited (HPDCAPL) and Jindal Power Company Ltd. • DPR was prepared by M/s EHEPCL and concurrence was accorded by CEA on 12.07.2013. • In Dec’2021, MOP indicated the Etalin HEP to SJVNL Ltd. For study and possible allotment. • MOA signed between Govt. of Arunachal Pradesh and SJVNL Ltd on 12.08.2023. • Further, MOP has assigned Etalin HEP to NHPC on 11.11.2025 for further development. • Environment Clearance accorded by MoEF&CC on 23.08.2025. • Forest Clearance (Stage-I) accorded on 20.06.2025. • NOC/Defence Clearance accorded on 15.01.2025. • Draft PIB Memo with estimated cost of project of ₹ 29,385.18 crore (completion level) submitted to MoP on 19.12.2025. Total 9798 39294.08 121877.11
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27 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 on 24.03.2022. •CEA has accorded approval to MoC of the project on 01.09.2025. •Expert Appraisal Committee (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 10618 42201.56 133623.12
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28 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 • 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 Environment Impact Assessment of the Project has been approved by Ministry of Forest and Environment (MoFE), Govt. of Nepal on 06.08.2025. • Public Hearing for accord of Environmental Clearance (EC) and 400 kV Associated Transmission line successfully conducted during 04th to 10th Nov’25. EIA report is under finalization. • 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. • 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. • Request letter forwarded to IBN, Nepal on 01.12.2025 & 18.12.2025 for early accord of Technical Clearance and finalization of concessions and Financial Framework. • Survey License has been extended by the IBN up to 15.03.2026. Total 1890
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Solar & Wind Projects at a Glance 30 Clean Power For EVERY HOME
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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 1 200 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 2 100 MW Grid Connected Solar Power Project under CPSU Scheme, Andhra Pradesh. 100 567.34 June, 2026 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 June, 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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32 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 June , 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 December, 2026 2.73 PPA signed with GUVNL on 10.08.2023 6 600 MW Grid Connected Solar Power Project under CPSU Scheme, Gujarat 600 4194.89 December, 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. Total 1190 6901.47
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33 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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34 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. • 1100 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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35 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) 3670 • Letter of Award issued. • PPA & PSA to be signed. 2 Solar & Wind Hybrid (2023-24 - Hybrid-I) (2024-25 – Hybrid-II) 2970 • Letter of Award issued. • PPA & PSA signed for 388 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) 4050 • Letter of Award issued. • PPA & PSA signed for 900 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) 2030 • Letter of Award issued. • PPA & PSA to be signed. 5 Solar with storage (2024-25 – Solar+Storage 4 Hrs) 1560 • Letter of Award issued. • PPA & PSA to be signed. Total 14280
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36 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 37 Green Power, Clean Power Pumped Storage Schemes
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38 New Initiatives Pump Storage Project Scheme (1) Maharashtra S.No Name/Place of PSP Installed Capacity (MW) Present Status 1 Savitri 2400 PFR submitted to Govt. of Maharashtra & CEA. Layout Finalization Chapters cleared from CEA. Exploratory drilling in progress. Water Availability Certificate received. NOC for Term of Reference (ToR) obtained. 2 Kengadi 600 PFR of 600 MW capacity submitted to Govt. of Maharashtra. PFR for alternate layout optimization studies for enhanced capacity of 900 MW is under preparation. 3 Kalu 1800 PFR submitted to Govt. of Maharashtra & CEA. Layout finalization chapter submitted to CEA and are under examination. 4 Jalond 2400 Project falls under wild life sanctuary and feasibility is being examined. Total 7200
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39 New Initiatives Pump Storage Project Scheme (2) Andhra Pradesh (through ANGEL, a JV between NHPC and APGENCO) S.No Name/ Place of PSP Installed Capacity (MW) Present Status 5 Rajupalem 800 DPR is under preparation and is likely to be submitted by Aug’ 2026. EAC recommended ToR on 21.01.2026. 6 Yaganti 1000 DPR is under preparation and is likely to be submitted by March’ 2026. ToR in Favour of ANGEL is transferred on 20.06.2025. Water Resources Department, Govt. of Andhra Pradesh issued NOC for water allotment from Galeru-Nagari Sujala Sravanthi (GNSS) Flood flow canal. 7 Gadikota 1200 DPR is under preparation and is likely to be submitted by Feb’2026. ToR in favour of ANGEL transferred on 23.06.2025. 8 Aravetipalli 1320 BoD of ANGEL Singed MoU with NHPC for consultancy for preparation of DPR. Water allocation approval has been received on 05.01.2025 9 Deenepalli 750 BoD of ANGEL Singed MoU with NHPC for consultancy for preparation of DPR Total 5070
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40 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 DPR submitted to CEA on 27.06.2025. NOC obtained from Deptt. of Mines, Khandwa (MP) and from Deptt. of Mining on 09.07.2025 & 10.10.2025 respectively. NOC obtained from ASI, Bhopal on 08.09.2025. Defence Clearance obtained on 08.10.2025. EIA/EMP studies completed on 20.10.2025. MPSPCB issued letter (29.01.2026) to DC-Khandwa for conducting Public Hearing. Total 640
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41 New Initiatives Pump Storage Project Scheme (4) Odisha S.No Name/ Place of PSP Installed Capacity (MW) Present Status 11 Masinta 1000 PFR submitted to GRIDCO Limited. DPR is under preparation. Water allocation approval has been received. Layout Finalization Chapters clearance obtained. Exploratory drilling in progress. ToR for EIA/ EMP study issued. Letter of Award issued for site seismic studies. 12 Harbhangi 1020 Harabhangi’s PFR submitted to GRIDCO. Badanalla’s PFR submitted to GRIDCO. Optimization study under progress. NHPC requested for allotment of Harbhangi project and permission for exploration of nearby sites of proposed Badanalla project. 13 Badanalla 800 Total 2820
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42 New Initiatives Pump Storage Project Scheme (5) Gujarat S.No Name/ Place of PSP Installed Capacity (MW) Present Status 14 Kuppa 900 PFR submitted to Govt. of Gujarat. 03 attempts were made to conduct the site survey; however, the work could not be completed due to protests by local villagers. The matter is being pursued with the local and State authorities to resolve the issues. State Govt. has given assurance to provide all the required support. Total 900
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43 New Initiatives Pump Storage Project Scheme (7) Rajasthan & Chhattisgarh S.N o Name/ Place of PSP Installed Capacity (MW) Present Status 15 Singli (Rajasthan) 1000 PFR submitted to Rajasthan Renewable Energy Corporation Limited. Water allocation has been obtained. Approval for registration of Singli PSP in favour of NHPC has accorded by Govt. of Rajasthan. Registration is under progress. 16 Kurund (Chhatisgarh) 1000 Techno-Economic Commercial Viability of the project is under assessment. PFR chapters shall be prepared after establishment of Techno- Economic Commercial Viability of the project. 17 Hasdeo Bango (Chhatisgarh) 800 DPR of the project is being prepared. Review of DPR shall be taken up after submission of the same from Chhattisgarh State Power Generation Company Limited. Total 2800 Grand Total 19430
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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 & State/UT 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) Himachal Pradesh 800 3074.60 2025(Apr) 13000.58 Tariff petition filed. Notification is awaited. ROR with Pondage 22 Subansiri Lower, (8X250) Assam and Ar. Pradesh 500 Shall be shared after full commissioning ROR with small pondage Total-A 6751.20 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) 7151.20 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) 8832.90 31105.65 65247.79
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49 NHPC-Energising India With Hydropower