Slides
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Salal Power Station, J&K Clean Power For Every Home INVESTOR PRESENTATION FINANCIAL YEAR 26 - 27 : September 2026
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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 Current installed capacity (Nov, 26) of 9583 MW (9021 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. • 16.85% share of installed hydro-electric capacity in India (8,771 MW out of 52,065 MW*). • Consultancy business. • Power trading business. • Exposure to international business opportunities. * Source-CEA as on 30.09.2026 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 (9,583 MW) Projects under construction (8,954 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 Dulhasti Stage-II Uri I Stage-II
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5 Installed Capacity Under Construction Power Stations under Operation: • Hydro – 24 Nos. - 9021 MW (Details at slide 44-46) • Solar & Wind – 7 Nos. - 562 MW (Details at slide 46-47) • Total – 31 Nos. - 9583 MW CONSOLIDATED PHYSICAL SNAPSHOT Projects Under Construction • Hydro – 10 Nos. - 7764 MW (Details at slide 20-21) • Solar – 7 Nos. - 1190 MW (Details at slide 29-31) • Total – 17 Nos. - 8954 MW Awaiting Clearances Projects Awaiting Clearances & Approval : - • Hydro – 6 Nos. -9242 MW (Details at slide 22-25) • Solar – 2 Nos. - 145 MW (Details at slide 32) • Total – 8 Nos. - 9387 MW Under Survey &Investigation Projects under Survey & Investigation - • Hydro – 3 Nos. -1890 MW (Details at slide 26-27) • Pump Storage – 15 Nos.-17930 MW (Details at slide 37-42) • Total – 18 Nos. - 19820 MW Hydro Power is 9.32% (52065 MW) of All India Installed Capacity (558897 MW*). NHPC Contribution is 16.85% of Installed Hydro Power On Consolidated Basis. *Source-CEA as on 30.09.2026 Status Capacity (MW) Operational Projects 9,583 Projects Under Construction 8,954 Projects Under Clearance 9,387 Projects Under Survey & Investigation 19,820 Total 47,744
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6 NHPC ’ s Track Record – A Ten Year Digest Nation Building Through Sustainable Power Development Actual H1 FY’27 Actual H1 FY’26 •Country Generation 1064 BU •Share of Hydro Power 94 BU (9%) •Share of NHPC (Hydro) Consolidated 23132 MU (25%) •Country Generation 963 BU •Share of Hydro Power 107 BU (11%) •Share of NHPC (Hydro)- Consolidated 20491 MU (19%) excluding infirm power of Subansiri Lower – 14 MU, Parbati-II – 4 MU & Karnisar Solar – 2 MU) 28024 24298 26331 30236 28471 27139 30063 26285 25532 29600 Consolidated Generation (in M.U.) Year 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 Hydro 28006 24224 26181 30087 28319 26974 29896 26078 25184 28761 Solar - 4 83 96 90 89 90 125 292 782 Wind 18 70 67 53 62 76 77 82 56 57 Total 28024 24298 26331 30236 28471 27139 30063 26285 25532 29600 The above generation excludes infirm power.
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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.96% Other Income 4% Revenue H1 FY’27 Employee Benefit Expenses 15% Generation Expenses 10% Depreciation 22% Finance Cost 21% Other Expenses, 32% Expenditure H1 FY’27 Interim Dividend – 14.00% & Final Dividend – 2.10% 9189 10607 9632 10380 11615 3524 3890 3624 3007 3766 18.10% 18.50% 19.00% 16.10% 15% 15% 16% 16% 17% 17% 18% 18% 19% 19% 20% 0 2000 4000 6000 8000 10000 12000 14000 2021-22 2022-23 2023-24 2024-25 2025-26 Revenue Vs. Net Profit Vs. Dividend Revenue Net Profit Dividend Rs. In Crore 19.10% Particulars FY’27 FY’26 % Change Half Year Qtr-2 Half Year Qtr-2 Full Year Half Year Qtr-2 Revenue from Operation 8290.86 4482.55 6579.03 3365.26 11615.29 26.02 33.20 Other Income 338.44 187.03 493.71 264.72 1070.80 -31.45 -29.35 Total Income (A) 8629.30 4669.58 7072.74 3629.98 12686.09 22.01 28.64 Generation Expenses 551.85 276.52 591.92 301.68 820.74 -6.77 -8.34 Emp. Benefits Expense 793.17 392.16 749.96 326.46 1498.34 5.76 20.12 Finance Cost 1161.93 556.17 538.49 277.69 1423.02 115.78 100.28 Depre. & Amort. Expense 1209.68 610.03 877.23 441.46 1975.85 37.90 38.18 Other Expenses 1717.88 938.10 1408.77 710.25 4060.30 21.94 32.08 Total Expenditure(B) 5434.51 2772.98 4166.37 2057.54 9778.25 30.44 34.77 Share of Net Profit of Associates (C) 2.15 0.95 0.71 0.09 2.48 202.82 955.56 PBT(Before RRA) (D=A-B+C) 3196.94 1897.55 2907.08 1572.53 2910.32 9.97 20.67 Rate Regu. Income (E) 550.32 296.01 366.50 182.74 983.36 50.16 61.98 PBT (After RRA) (F=D+E) 3747.26 2193.56 3273.58 1755.27 3893.68 14.47 24.97 Tax (G) 911.60 535.99 923.14 535.99 (326.78) -1.25 0.00 Profit After Tax (H=F-G) 2835.66 1657.57 2350.44 1219.28 4220.46 20.64 35.95 NHPC Share in PAT (I) 2644.96 1549.09 2086.46 1021.44 3765.74 26.77 51.66
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9 Statement of Assets & Liabilities: Consolidated Awaiting Clearances Equity and Liabilities H1 FY’27 FY’26 Share Holder’s Funds 43740.96 41437.18 Non-Controlling Interest 7010.82 6967.67 Long Term Borrowings 50519.93 46173.52 Long Term Lease Liabilities 170.63 175.84 Deferred Tax Liabilities 2145.65 1745.39 Other Long term Liabilities & Provisions 8334.99 7963.53 Current Liabilities & Provisions 15289.95 14106.01 Regulatory Deferral Account Credit Balances 1292.90 1441.75 Total Equity & Liabilities 128505.83 120010.89 Assets PPE (incl. investment property) 46483.02 45775.59 Capital Work in Progress (including Intangible Asset under Development) 39074.40 34947.58 Right of Use Assets & Intangible Asset 4549.98 4514.46 Non Current Financial Asset 10582.81 9979.86 Non Current Assets (Others) 2117.10 1706.41 Regulatory Asset 8817.92 8416.47 Trade Receivables 4283.37 2629.40 Cash and Bank Balances 4644.63 3651.04 Current Assets (Others) 7950.87 8386.41 Assets Classified as Held for Sale 1.73 3.67 Total Assets 128505.83 120010.89 ₹ In Crore
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10 Debtors Position: Consolidated Pipelined Projects ₹ In Crore Top Five Debtors* Name 30.09.2026 31.03.2026 Total More than 45 days Total More than 45 days J&K 700 0 568 115 Uttar Pradesh 668 13 394 11 Rajasthan 657 252 340 58 Punjab 394 1 192 1 Madhya Pradesh 382 0 233 5 Total Debtors S. N. Particulars As on 30.09.2026 As on 30.06.2026 As on 31.03.2026 As on 31.12.2025 As on 30.09.2025 1 Trade Receivables 4283 (including unbilled debtors of ₹ 1573 Crs.) 4354 (including unbilled debtors of ₹ 2425 Crs.) 2630 (including unbilled debtors of ₹ 1887 Crs.) 2329 (including unbilled debtors of ₹ 920 Crs.) 3466 (including unbilled debtors of ₹ 1788 Crs.) 2 More than 45 days* 290 262 242 380 402 * Net of Provision
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11 Incentives Position: Consolidated Pipelined Projects Comparative Incentive YoY (₹ in Crs.) Sl. Particulars FY26-27 FY25-26 Q-1 Q-2 Q-3 Q-4 Total Q-1 Q-2 Q-3 Q-4 Total 1 Secondary Energy 32.89 23.57 56.46 2.53 228.03 230.27 109.15 569.98 2 PAF Incentives 0.00 3.32 3.32 0.50 12.53 38.58 245.35 296.96 3 Deviation Charges 11.53 31.85 43.38 8.54 12.50 13.34 11.84 46.22 G. Total 44.42 58.73 103.16 11.57 253.06 282.19 366.34 913.16 4 PAF 80.79% 92.24% 86.67% 83.66% 78.58% 75.62% 62.47% 74.75% Supplements Supplements Power Station with Highest PBT- Dulhasti (395 Cr.) NHPC Profit per MW: ₹ 30 lakhs (H1 FY’27), ₹ 29 lakhs (H1 FY’26) NHPC Profit per Employee: ₹ 56 lakhs (H1 FY’27), ₹ 44 lakhs (H1 FY’26) Power Station With Highest PAF: Sewa-II (PAF : 107.01%, NAPAF : 86%) Power Station with highest Deviation Charges: Parbati-II (₹ 16 Cr.) Power Station Giving Best Generation : Omkareshwar (102% of the annual design energy)
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12 Key Financials :H1 FY’27 Consolidated P&L Consolidated Total Income 8629 EBITDA 6119 EBITDA Margin 65% PAT (owners of parent co.) 2645 Profit Margin 34% Dividend Pay Out (FY‘26) 16.10% Balance Sheet Consolidated Share Capital 10045 Net worth 43741 Long Term Debt 50520 Cash & Bank Bal. 4645 Gross Block 77285 CWIP 39074 ₹ In Crore Shareholding pattern as on 30.09.2026 3524 3890 3624 3007 3766 1818 1858 1909 1919 1617 52% 48% 53% 64% 43% 0% 10% 20% 30% 40% 50% 60% 70% 0 1000 2000 3000 4000 5000 2021-22 2022-23 2023-24 2024-25 2025-26 Dividend Pay out Net Profit Dividend DIV. Payout Ratio FII 13.17% GOI-61.39% Individual/HUF- 9.36% DII 15.65% Others-0..43%
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13 NHPC – Key Ratios *Not Annualised **Stock Price (BSE): as on 02.11.2026 ₹. 78.80 & as on 31.03.2026 ₹ 73.68. S. No. Particulars H1 FY’27 FY’26 Particulars Standalone Consolidated Standalone Consolidated 1. PAT (₹ in Cr.) 2638.90 2644.96 3617.80 3765.74 2. Net-worth (₹ in Cr.) 42275.75 43740.96 39972.27 41437.18 3. No. of Equity Shares (In Cr.) 1004.50 1004.50 1004.50 1004.50 4. EPS (₹) 2.63* 2.63* 3.60 3.75 5. Earning Yield(%)** 3.34* 3.34* 4.89 5.09 6. Dividend Per Share (₹) - 1.61 7. Dividend Yield(%)** - 2.19 8. Book Value per share (₹) 42.09 43.55 39.79 41.25 9. PB Ratio** 1.87 1.81 1.85 1.79 10. PE Ratio** 14.98 14.98 20.47 19.65 11. Return On Net worth (%) 6.42* 6.21* 9.24 9.29 12. Market Capitalisation (₹ in Cr.)** 79155 74012 13. Debt Equity Ratio 1.18 1.36 1.16 1.31
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NHDC Ltd. (Subsidiary) – Snapshots : FY 25 - 26 14 Shareholding Pattern : 51:49 (NHPC : GoMP) Installed Capacity : 1616 MW Design Energy : 2379 MUs Generation : 6209 MUs (FY’26), 5575 MUs (FY’25) PAF : 97.85% (FY’26), 96.56% (FY’25) Revenue from operations : ₹ 1305 Crs. (FY’26), ₹ 1401 Crs. (FY’25) PAT : ₹ 936 Crs. (FY’26), ₹ 837 Crs. (FY’25) 858 1318 1269 1401 1305 227 191 232 194 226 513 774 812 837 936 0 500 1000 1500 2021-22 2022-23 2023-24 2024-25 2025-26 Financial Performance Sales Revenue Other Income PAT 2,645 5,444 4,473 5,575 6,209 92.74% 97.42% 96.43% 96.56% 97.85% 90% 92% 94% 96% 98% 100% 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2021-22 2022-23 2023-24 2024-25 2025-26 Physical Performance Generation (MU) PAF PAF Incentive : ₹ 47 Crs. (FY’26), ₹ 42 Crs. (FY’25) Secondary Energy : ₹ 470 Crs. (FY’26), ₹ 422 Crs. (FY’25) Regulated Equity: ₹ 2082 Crs. (FY 2025-26) Deviation Charges: ₹ 22 Crs. (FY’26), ₹ 16 Crs. (FY’24)
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15 NHDC Ltd. – Financial Highlights : H1 FY 26 - 27 Awaiting Clearances Pipelined Projects Rs. In Crore Particulars FY’27 FY’26 % Change Half Year Qtr-2 Half Year Qtr-2 Full Year Half Year Qtr-2 Actual Generation (in MU) 2229 1365 3926 3309 6209 -43.22 -58.75 Actual PAF (in %) 92.13 100.33 96.71 107.08 97.85 -4.58 -6.75 Revenue from Operations 640.80 365.18 878.44 640.09 1305.17 -27.05 -42.95 Total Income 733.92 411.92 973.85 687.44 1531.18 -24.64 -40.08 Profit After Tax (PAT) 391.00 225.15 544.97 407.94 935.72 -28.25 -44.81 PAF Based Incentive 3.32 3.32 13.03 12.53 46.66 -74.52 -73.50 Secondary Energy 56.46 23.57 227.16 224.63 469.93 -75.15 -89.51 Deviation Charges 13.31 9.59 10.61 6.33 21.53 25.45 51.50
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16 NHPC – Consolidated Capacity Addition & Regulated Equity (Hydro) Power Station with highest generation during H1 FY’27 : Subansiri Lower - 3083 MU 0 5000 10000 15000 20000 Current Installed Capacity-Nov, 26 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 9021 MW 12905 MW Kwar : 540 MW Ratle : 850 MW (Total : 1390 MW) Full commissioning of Subansiri Lower by commissioning last unit : 250 MW & Pakal dul : 1000 MW (Total–1250 MW) 11515 MW Teesta VI : 500 MW, Uri-I Stage-II : 240 MW Dulhasti Stage-II : 260 MW (Total – 1000 MW) 13905 MW 10265 MW Subansiri Lower 2 units : 500 MW, Rangit – IV : 120 MW, & Kiru : 624 MW (Total-1244 MW) 9339 3075 1500 4380 0 18339 27678 30753 32253 36633 36633 0 2110 118 137 745 0 5000 10000 15000 20000 25000 30000 35000 40000 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 29-30 FY 30-31 Progressive Regulated Equity Incremental Regulated Equity Existing/ Cumulative Regulated Equity Expected Additional PAT . FY 2026-27 : R.E. for Rangit-IV (Rs. 617 Cr.), Kiru (51% share of total R.E. – Rs. 828 Cr.) and Subansiri Lower (proportionate for 7 units – Rs. 7894 Cr.) have been considered. However, PAT of Subansiri Lower has been considered in subsequent year i.e. FY 2027-28 due to part commissioning of the project. FY 2027-28: R.E. for last unit of Subansiri Lower (proportionate for 1 unit - Rs. 1128 Cr.) & Pakal Dul (51% share of total R.E.– Rs. 1947 Cr.) and PAT for Subansiri Lower, Rangit-IV, Kiru and Pakal Dul have been considered. FY 2028-29 onwards, R.E. has been considered in the year of commissioning and PAT has been considered in next financial year of commissioning taking conservative view as most of the projects are getting commissioned in lean period of concerned financial year. However, full year benefit of Kwar has been considered in the commissioning year only as the project is getting fully commissioned in the first quarter of financial year. ₹ In Crore
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17 NHPC – CAPEX F.Y Amount (₹ In Crore) Remarks 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 13689 (Actual – Consolidated) 2026-27 15000 (Consolidated Target)
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18 NHPC – Major Highlights during the period Cabinet Committee of Economic Affairs (CCEA) has accorded investment Approval to the 1720 MW Kamala Hydroelectric Project in Arunachal Pradesh on 22.04.2026. The restoration work of Teesta-V Power Station has completed and power station has again started commercial operation in July, 2026. NHPC has commissioned 5 units of Subansiri Lower Hydroelectric Project (250 MW each), the largest hydro power station of the country on 23.12.2025, 01.02.2026, 20.03.2026, 08.05.2026 & 23.10.2026 respectively marking a significant achievement in country’s hydro power sector. In a major development towards implementation of 3097 MW Etalin Hydroelectric Project, NHPC has signed a Memorandum of Agreement with the Government of Arunachal Pradesh on 16.06.2026.
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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 Cost as per Investment Approval (₹ in Crore) (Price Level) Anticipated Project Cost (₹ in Crore) (Price Level) Provisional Project Expenditure till Sep’26 (₹ in Crore) Expected Commissioning Schedule Subansiri Lower, (8X250) Assam/Ar. Pradesh 750 7422 Run of River with small pondage 6,285.33 (Dec’02) 30,071.97 (Jan’26 PL) 26,935.98 5 units already commissioned Next 3 units (Q1 FY 27-28) Teesta-VI, (4X125) Sikkim 500 2400 Run of River 5,748.04 (July’18) 9,166.80 (Jan’26 PL) 5,650.02 FY 29-30 (Q-2) Uri-I (Stage-II) (2X120) UT of J&K 240 933 Run of River 2708.95 (completion cost) 2,708.95 (completion cost) 33.05 FY 29-30 (Q-3) Dulhasti (Stage-II) (2X130) UT of J&K 260 1093 Run of River 2993.96 (completion cost) 2,993.96 (completion cost) 121.75 FY 29-30 (Q-3) Dibang, (12X240) Arunachal Pradesh 2880 11223 Hydropower cum flood moderation scheme 31,876.39 (May’21) 31,876.39 (May’21 PL) 5,503.60 FY 31-32 (Q-4) Total (A) 4630 23071 49,612.67 76,818.07 38,244.40
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21 Subsidiary: Hydro Projects Under Construction Name of Project Installed Capacity (MW) Design Energy (MUs) Type of the project Cost as per Investment Approval (₹ in Crore) (Price Level) Anticipated Project Cost (₹ in Crore) (Price Level) Provisional Project Expenditure till Sep’26 (₹ in Crore) Expected Commissioning Schedule Rangit-IV, (3X40) Sikkim 120 508 Run of River 938.29 (Oct’19) 2,057.40 (at completion cost) 1,916.28 FY 26-27 (Q-3) Kiru, (4X156) UT of J&K 624 2272 Run of River 4,287.59 (July’18) 5,409.00 (Apr’23 PL) 4,104.88 FY 26-27 (Q-4) Pakal Dul, (4X250) UT of J&K 1000 3230 Run of River 8,112.12 (Mar’13) 12,728.00 (at completion cost) 10,183.14 FY 27-28 (Q-1) Kwar, (4x135) UT of J&K 540 1975 Run of River 4,526.12 (Sept.20) 4,526.12 (Sep’20) 2,078.97 FY 28-29 (Q-1) Ratle, (4X205+30) UT of J&K 850 3137 Run of River 5,281.94 (Nov‘18) 5,281.94 (Nov'18 PL) 1,749.37 FY 28-29 (Q-3) Total (B) 3134 11122 23,146.06 30002.46 20,032.64 Total (A+B) 7764 34193 72,758.73 106,820.53 58,277.04
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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. • 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. • Power Department, Govt. of Sikkim vide letter dated 16.07.2026 and 28.08.2026 has requested NHPC to submit the current roadmap for development of Project. 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) UT of J&K 1800 7010.36 26,373.66 (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. • Appraisal accorded by CEA on 18.04.2018. Extension of validity of appraisal up to 17.04.2027 has been accorded on 08.07.2026. • PIB meeting for implementation of project held on 06.10.2026. The proposal has been recommended by PIB with certain conditions. Total (A) 2820 11022.10 36736.66
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24 Subsidiary: Hydro Project Under Clearance S.No Projects Installed Capacity (MW) Design Energy (MUs) Cost (₹ In Crore) & PL Status 1 Kamala (8X210+1X40) Arunachal Pradesh (Subsidiary: to be formed) 1720 6869.92 26069.50 (completion) • NOC/Defence clearance issued on 28.03.2025. • DPR has been concurred by CEA on 23.05.2025. • Expert Appraisal Committee recommended for grant of Environmental Clearance on 11.02.2026. • Land acquisition for the project is being undertaken in association with state administration. District administration is in the process of finalization of cost of land & assets. • Site inspection of CA land in MP completed by RO, MoEF&CC and the same is uploaded on Parivesh. • CCEA approved the investment proposal of the project amounting to ₹ 26069.50 crore on 22.04.2026. • The project would be executed by a Joint Venture Company to be formed between NHPC & Govt. of Arunachal Pradesh. 2 Subansiri Upper (7X215+1X100) Arunachal Pradesh (Subsidiary: to be formed) 1605 6131.55 24595.32 (completion) • DPR was submitted to CEA on 09.05.2025. Authority meeting for concurrence of DPR held on 16.12.2025. TEC is under consideration at CEA. NHPC is pursuing with Govt. of Ar. Pr. for SGST waiver and arranging concessional loan as advised by CEA. • NOC/Defence clearance has been received on 02.04.2025. • State Govt. recommended the forest proposal and submitted to MoEF&CC on 19.09.2025. Site inspection of CA land completed by RO, MoEF&CC and the same is uploaded on Parivesh. • Public Hearing has been successfully conducted on 24.03.2026.
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25 Subsidiary: Hydro Project Under Clearance S.No Projects Installed Capacity (MW) Design Energy (MUs) Cost (₹ In Crore) & PL Status 3 Etalin (10X307+1X19.60 +1X7.4) Arunachal Pradesh (Subsidiary: to be formed) 3097 12260.43 30037.36 (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. • In Dec’2021, MOP indicated the project to SJVNL Ltd. For study and possible allotment and MOA signed between Govt. of Arunachal Pradesh & SJVNL Ltd. on 12.08.2023. • MOP assigned project to NHPC on 11.11.2025 and MoA signed between GoAP and NHPC on 16.06.2026 for execution of project. • The project bears all the necessary clearances (viz TEC Concurrence, Defence Clearance, Forest Rights Act, 2006, Environmental Clearance) except FC-II, which is under process. Defence clearance/NoC transferred in the name of NHPC by Ministry of Defence on 05.02.2026. • MoP circulated the draft PIB Memo amounting to Rs. 30,037.36 crore on 09.04.2026. Revised PIB Memo incorporating the comments of various agencies/ departments has been submitted to MoP on 02.07.2026 which is currently under examination at MoP. Total (B) 6422 25261.90 80702.18 9242 36284.00 117438.84
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26 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 • The Implementation Agreement (IA) of the Project was signed between NHPC and Government of Uttarakhand (GoUK) on 20.11.2005. In view of expiring of validity of IA as on 31.08.2024, NHPC requested GoUK for extension of validity of the same for further period of 5 years i.e. upto 31.08.2029. • The validity of Implementation Agreement has been extended by GoUK upto 31.08.2029. • The project remains under active consideration in India–Nepal bilateral discussions, with MEA facilitating engagement with Nepal for obtaining the necessary consent from Govt. of Nepal to commence Survey & Investigation and DPR activities.
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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 • Investment Board of Nepal (IBN) granted Technical Clearance to the Final DPR of the project on 29.08.2025. • 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. • Initial Environmental Examination (IEE) of the Project submitted to Department of Electricity Development (DoED), Nepal on 29.04.2026. EIA report submitted to IBN, Nepal on 07.09.2026. • Clearances on Hydrology, Glacial Lake Outburst Flood (GLOF), Power Potential Studies (PPS), Power Evacuation, Foundation Engineering and Seismic Aspects (FE&SA), Preliminary Layout of the Project (GSI) and E&M Aspects have been accorded. Balance Clearances are under approval. 3 SR6 Nepal 460 • Final DPR of the project has been submitted to the IBN on 12.03.2025. • Clearances on Hydrology, GLOF, Power Potential Studies (PPS), Gate / HM, FE&SA Aspect, Instrumentation Aspect and Preliminary Layout of the Project has been accorded by Central Electricity Authority/Central Water Commission/Geological Survey of India. • Presently, DPR is under examination by various departments in India and by IBN, Nepal. • NHPC submitted its reply to IBN, Nepal on 10.08.2026 in response to the technical comments dated 18.06.2026 on the Final DPR. Total 1890 27
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Solar & Wind Projects at a Glance 28 Clean Power For EVERY HOME
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29 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 (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 2 100 MW Grid Connected Solar Power Project under CPSU Scheme, Andhra Pradesh. 100 567.34 January. 2027 2.45 Power Usage Agreement signed with WB Discom for 100 MW Project on 23.11.2022. 3 40 MW Solar power project in Ganjam, Odisha 40 147.91 March, 2027 2.75 Supplementary PPA signed with GRIDCO on 29.06.2024.
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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 4 Floating Solar (50MW), West Kallada. Kerala 50 255.92 March, 2027 3.04 (ceiling tariff) PPA signed with KSEBL on 08.04.2025 5 200 MW Grid Connected Solar photovoltaic Power Projects in GSECL RE Park (stage-3) at Khavda, Gujarat 200 822.41 September, 2027 2.66 PPA signed with GUVNL on 27.06.2024 6 600 MW Grid Connected Solar Power Project under CPSU Scheme, Gujarat 600 4194.89 November, 2027 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 (A) 1190 6901.47
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31 Subsidiary: 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 1200 MW Solar Park, Jalaun (U.P.) under UMREPP (Subsidiary -BSUL) - 796.96 (Park Infrastructure development cost only) March, 2028 600MW @ Rs 2.73/- and other 600MW @ Rs 2.74/- The Letter of Award of work issued on 30.06.2026 at Tariff rate @ Rs. 2.73/- per unit for 600 MW Madhogarh to Coal India Ltd. and Rs. 2.74/- per unit for 300 MW Pathrahi & 300 MW Orai to NLC Renewables India Ltd. Terms of Reference (TOR) signed with REMCL (Railway Energy Management Company Ltd) and North Central Railways on 30.01.2023 for sale of 1405 MU power from the Park under Optimum Scheduling Mode @400 MW GNA. Further, the possibility of Solar + BESS is being explored. BESS tender shall be floated shortly for signing of PPA with Discom for BESS Power. Total (B) - 796.96 Total (A+B) 1190 7698.43
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32 Subsidiary: Solar Projects under Tender and pipeline Sl. No. Name of Project Capacity (MW) Estimated Capital Cost Status of PPA 1 Mirzapur Solar Project (Subsidiary -BSUL) 100 384.15 • MNRE conveyed cancellation of Mirzapur Solar Park vide their letter dated 13.02.2026 on the ground that identified land is forest land. • BSUL requested MNRE for withdrawl of cancellation of the Mirzapur Solar Park vide letter dated 13.02.26 & 18.02.2026 wherein apprised the correct land status of non-forest land with past precedence. Response from MNRE yet to be received. • Further, necessary follow-ups are being made with UPNEDA. 2 Madhogarh Solar Project (Subsidiary -BSUL) 45 183.76 • The project is being explored with (Solar + BESS). Preparation of Feasibility report is under process. • PSA shall be explored with UPPCL for Solar + BESS Model. • UPNEDA and UPPCL have been requested for the procurement of power from the project. Consent of UPPCL is awaited. Total 145 567.91
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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. • 1351 MW out of 2000 MW already commissioned. 2 Solar (2023-24 – Solar-I) 3000 • PPA & PSA signed. • 250 MW commissioned out of 3000MW. 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) 3600 • Letter of Award issued. • PPA & PSA signed for 400 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. 2 Solar & Wind Hybrid (2023-24 - Hybrid-I) (2024-25 – Hybrid-II) 2970 • Letter of Award issued. • PPA & PSA signed for 388 MW. • 250 MW of discrete solar component commissioned. • 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 1830 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) 300 • Letter of Award issued. • PPA & PSA to be signed. • Obtaining consent for signing of PSA By BSPHCL. Total 12950
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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. • 15MW/60MWh Commissioned in October, 2026. • Projects to be completed by February, 2027. 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 January, 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 submitted to Govt. of Maharashtra & CEA. Layout Finalization Chapters cleared from CEA. Exploratory drilling in progress. Water Availability Certificate received. ToR granted for EIA/EMP studies. 1st season data for EIA/EMP studies collected. 2 Kengadi 900 PFR of revised capacity of 900 MW submitted to Govt. of Maharashtra. Layout Chapter under preparation. 3 Kalu 1800 PFR submitted to Govt. of Maharashtra & CEA. Layout Finalization Chapters cleared from CEA. Exploratory drilling in progress. ToR granted for EIA/EMP studies. 4 Jalond 2400 Project area falls within a wildlife sanctuary and feasibility is being examined. Total 7500
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38 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 Gadikota 1200 Draft DPR submitted by the consultant is under examination. TOR granted, Environmental and Forest Clearances are being pursued. 6 Aravetipalli 1320 Tendering for appointment of consultant to prepare DPR of the project is in progress. Water Allocation for Initial filling stands accorded by WRD, Andhra Pradesh. 7 Deenepalli 750 Tendering for appointment of consultant to prepare DPR of the project is in progress. Total 3270
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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 8 Indrasagar- Omkareswar 640 DPR Concurred by CEA on 17.08.26. Environment Clearance recommended by Expert Appraisal Committee. Tender for E&M works & HM Works issued. Tender for Civil works is in advance stage. Forest Clearance & Land acquisition: 198 Ha Forest Land: - FAC Meeting held on 23.10.26. FC expected soon. 37.48 Ha Revenue Forest Land (Muck Disposal):- Land diversion proposal is under evaluation by MoEF&CC. 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 9 Masinta 1000 PFR submitted to GRIDCO Limited. Water allocation approval has been received. Layout Finalization Chapters clearance obtained. DPR is under preparation. Exploratory drilling and various tests/studies are in progress. ToR for EIA/ EMP study issued. 1st season data for EIA/EMP studies collected. 10 Harbhangi 1020 PFR submitted to GRIDCO. PFR under examination by Single window committee (SWC) of Govt. of Odisha. Project allocation shall be after approval of SWC. 11 Badanalla 800 PFR submitted to GRIDCO. Optimization study under progress due to high Tariff. NHPC requested for permission for exploration of nearby sites of proposed Badanalla project to achieve commercial viability. Confirmation of the same from Govt. of Odisha is awaited. Total 2820
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41 New Initiatives Pump Storage Project Scheme (5) Gujarat & (6) Rajasthan S.No Name/ Place of PSP Installed Capacity (MW) Present Status 12 Kuppa (Gujarat) 900 PFR Submitted to Govt of Gujarat. Site survey could not be completed despite three attempts due to protests by local villagers. Necessary administrative support sought from state govt. for carrying out S&I works smoothly. Concessions has been sought from state govt. to make the project viable. 13 Singli (Rajasthan) 1000 PFR submitted to Rajasthan Renewable Energy Corporation Limited. Water allocation has been obtained. Registration for setting up project has been completed. NOC from DFO, Banswara obtained for survey and Investigation. Total 1900
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42 New Initiatives Pump Storage Project Scheme (7) Chhattisgarh S.N o Name/ Place of PSP Installed Capacity (MW) Present Status 14 Kurund (Chhatisgarh) 1000 PFR Submitted to Govt. of Chhattisgarh. Project falls inside ESZ of Udanti Sitamadi Tiger Reserve. NHPC requested State Govt. regarding concession / incentives to make the project commercially viable along with request to facilitate wild life clearance. 15 Hasdeo Bango (Chhatisgarh) 800 NHPC Limited signed MoU with the Govt. of Chhattisgarh and CSPGCL for setting up of Hasdeo Bango PSP in JV mode. DPR is being prepared by WAPCOS and review shall be taken up after submission of the same from CSPGCL. Project falls inside Lemuru Elephant Reserves. Confirmation of the same is awaited from Govt. of Chhattisgarh. Total 1800 Grand Total 17930
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Projects under Operation 43 Green Power, Clean Power Hydro Power Solar Power Wind Power
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44 NHPC: Projects under Operation S. No NHPC Project & State/UT Installed Capacity (MW) Design Energy (MU) Year of comm. Capital Cost as on 31.03.26 Tariff (26-27) (₹ /Kwh) Type of the project 1 Baira Siul, (3x60) Himachal Pradesh 180 661.09 1981 (Sep) 394.00 2.84 Run of River (ROR) with small pondage 2 Loktak, (3x35) Manipur 105 448.00 1983 (May) 189.30 3.89 Storage 3 Salal, (6x115) UT of J&K 690 3082.00 1987 (Nov) 1055.93* 2.78* ROR 4 Tanakpur, (3x40) Uttarakhand 94.20 452.19 1992 (Apr) 446.78 4.95 ROR 5 Chamera-I, (3x180) Himachal Pradesh 540 1664.56 1994 (Apr) 2140.18* 3.01* Storage 6 Uri-I, (4x120) UT of J&K 480 2587.38 1997 (Apr) 3531.50* 3.02* ROR 7 Rangit, (3x20) Sikkim 60 338.61 2000 (Feb) 548.77 4.03 ROR with small pondage 8 Chamera-II, (3x100) Himachal Pradesh 300 1499.89 2004 (Feb) 2037.39 2.41 ROR with small pondage 9 Dhauliganga-I, (4x70) Uttarakhand 280 1134.69 2005 (Oct) 1778.83 2.56 ROR with small pondage. 10 Dulhasti, (3x130) UT of J&K 390 1907.00 2007 (Mar) 5246.15* 5.38* ROR with small pondage 11 Teesta-V, (3x170) Sikkim 510 2572.70 2008 (Mar) 2964.29 1.97 ROR with small pondage Hydro
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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 31.03.26 (₹ in Crore) Tariff (26-27) (₹ /Kwh) Type of the project 12 Sewa-II, (3x40) UT of J&K 120 533.52 2010 (Jun) 1172.11 4.59 ROR with small pondage 13 Chamera-III , (3x77) Himachal Pradesh 231 1108.17 2012 (Jun) 2241.27 4.18 ROR with small pondage 14 Chutak , (4x11) UT of Ladakh 44 212.93 2013 (Jan) 1026.36 9.91 ROR 15 TLDP-III, (4x33) West Bengal 132 594.07 2013 (Mar) 2124.70 5.62 ROR with small pondage 16 Nimoo Bazgo, (3x15) UT of Ladakh 45 239.33 2013 (Jan) 1131.52 10.61 ROR with small pondage 17 Uri –II, (4x60) UT of J&K 240 1123.77 2014 (Feb) 2503.90* 4.80* ROR 18 Parbati-III, (4x130) Himachal Pradesh 520 1963.29 2014 (May) 2761.46 2.72 ROR with small pondage 19 TLDP IV, (4x40) West Bengal 160 717.72 2016 (Aug) 1954.13 4.46 ROR with small pondage 20 Kishanganga, (3x110) UT of J&K 330 1712.96 2018(Mar) 5901.40* 5.67* ROR with Pondage 21 Parbati-II, (4x200) Himachal Pradesh 800 3124.60 2025(Apr) 13875.08 6.88 (As per interim Tariff issued by CERC on 05.02.2026) ROR with Pondage 22 Subansiri Lower, (8X250) Assam and Ar. Pradesh 1250 Shall be shared after full commissioning ROR with small pondage Total-A 7501.20 27678.47 55025.05 3.99 *As per CERC order for 2024-29 Hydro
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46 NHPC: Projects under Operation Renewable Energy S.No Project Installed Capacity (MW) Design Energy (MU) Year of Comm. Capital Cost as on 31.03.26 (₹ in Crore) Tariff (26-27) (₹ /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 1717.03 2.45 Karnisar, Bikaner (Rajasthan) Total-B 400 949.30 2338.02 Sub Total Standalone(A+B) 7901.20 28627.77 57363.07 3.94 Subsidiary: Projects under Operation Hydro S.No Project Installed Capacity (MW) Design Energy (MU) Year of Comm. Capital Cost as on 31.03.2026 Tariff 26-27 (Rs./Kwh) Type of the project 1 Indrasagar, (8x125) Madhya Pradesh 1000 1423.26 2005 5007.39 3.71 Storage 2 Omkareshwar, (8x65) Madhya Pradesh 520 736.45 2007 3127.38 4.65 Storage Total-A 1520 2159.71 8134.77 4.03
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47 Subsidiary: Projects under Operation Renewable Energy S.No Project Installed Capacity (MW) Design Energy (MU) Year of Comm. Capital Cost as on 31.03.2026 Tariff 26-27 (₹/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 49.63 3.22 Sanchi (Madhya Pradesh) 3 Omkareshwar Floating Solar Park (Subsidiary – NHDC) 88 204.58 2024-25 565.35 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 161.70 368.17 969.87 Sub Total Subsidiary (A+B) 1681.70 2527.88 9104.64 Grand Total (Standalone+ Subsidiary) 9582.90 31155.65 66467.71
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48 NHPC-Energising India With Hydropower