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NHPC Limited has set up a wholly owned subsidiary named NHPC Renewable Energy Limited (NREL), to develop renewable energy projects, including small hydro and green hydrogen.
The formation of this separate renewable energy unit was approved by the Department of Investment and Public Asset Management and NITI Aayog in December 2021. The subsidiary company shall develop renewable energy projects (specific projects were not named) either in stand-alone mode or through formation of special purpose vehicles, with collaboration from other agencies. The press release also mentioned green hydrogen projects, although no further details were provided on these.
“NHPC’s has envisaged to become a global leading organization for sustainable development of clean power,” said Shri A.K. Singh, chairman and managing director of NHPC. “The incorporation of NHPC Renewable Energy Limited shows our deep commitment towards tapping Renewable Energy which helps in reduction of carbon emissions and in producing clean and green energy.”
The decision to set up a subsidiary for renewable energy comes at a time when NHPC, which is predominantly a hydro player, plans to increase the share of renewable energy in its generation portfolio, according to a press release. NHPC’s total installed generation capacity is 7,071 MW, which includes 100 MW of solar and wind energy-based plants. In addition, 5,999 MW of hydro and 105 MW of solar plants are under construction. To expand its renewable energy portfolio, NHPC has taken up several projects, which are in the tendering/development stage. In addition, NHPC recently signed a letter of intent with Rajasthan Renewable Energy Corporation Limited (RRECL) for the development of 10,000 MW of renewable energy projects/parks in Rajasthan. |
