NHPC, a major player in hydropower, has inked a Memorandum of Understanding (MoU) with Andhra Pradesh Power Generation Corporation (APGENCO) to jointly implement pumped storage hydro power projects and renewable energy initiatives like solar, floating solar, and wind projects in Andhra Pradesh. This MoU outlines their collaboration to establish a joint venture company (JVC) for phased project implementation, plant operation, power trading, and sales in accordance with national economic policies and regulatory provisions.
In the June 2023 quarter, NHPC reported a net profit of Rs 1,036.86 crore, with a slight decrease in revenue to Rs 2,757.26 crore. Additionally, on August 21, RITES signed an MoU with NHPC to provide comprehensive consultancy services for NHPC’s hydropower projects’ rail infrastructure facilities. In July, the Arunachal Pradesh government allocated the Subansiri Upper HE Project (2000 MW) and Kamala HE Project (1800 MW) to NHPC. NHPC’s shares remained unchanged on Thursday, closing at Rs. 50.55 on NSE.