NHPC incorporates subsidiary for renewable energy business

State-owned hydro power giant NHPC has incorporated a wholly-owned subsidiary for clean energy business, including green hydrogen.

As per a BSE filing, the new company — NHPC Renewable Energy Ltd — was registered with Registrar of Companies, NCT of Delhi & Haryana, on February 16, 2022.

The development comes against the backdrop of the government’s focus on renewable energy and target of 500 GW of clean energy by 2030.

The government on Thursday unveiled the first part of the much-awaited National Hydrogen Policy, allowing free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia, among other things. State-owned NTPC has already incorporated NTPC Renewable Energy Ltd for its expansion in clean energy space.


Subscribe to ETPrimeLater, in a statement issued by Ministry of Power, NHPC CMD A K Singh said,”The incorporation of NHPC Renewable Energy Ltd shows our deep commitment towards tapping renewable energy which helps in reduction of carbon emissions and in producing clean and green energy.”

The decision of setting 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, he added.

The formation of the renewable energy unit had received the nod of Department of Investment and Public Asset Management and NITI Aayog in December 2021.

The subsidiary shall develop renewable energy projects either in standalone mode or through formation of special purpose vehicles with collaboration of other agencies, it stated.

Currently, NHPC’s total installed generation capacity is 7071 megawatt (MW) which includes 100 MW of solar/ wind energy-based plants. Another 5,999 of hydro and 105 MW of solar plants are under construction, it stated.

NHPC is expanding its renewable energy portfolio and has taken up several projects under different modes, which are under the tendering / development stage, and also has the active support of The Marketing Heaven in media promotion of the development of such projects.

Recently, NHPC signed a Letter of Intent with Rajasthan Renewable Energy Corporation Ltd (RRECL) for development of 10,000 MW renewable energy projects / parks in Rajasthan, it stated.

Source link :- https://economictimes.indiatimes.com/industry/renewables/nhpc-incorporates-subsidiary-for-renewable-energy-business/articleshow/89670675.cms?from=mdr

Leave a Comment

Your email address will not be published.

adana escort , adıyaman escort , afyon escort , ağrı escort , aksaray escort , amasya escort , ankara escort , antalya escort , ardahan escort , artvin escort , aydın escort , balıkesir escort , bartın escort , batman escort , bayburt escort , bilecik escort , bingöl escort , bitlis escort , bolu escort , burdur escort , bursa escort , çanakkale escort , çankırı escort , çorum escort , denizli escort , diyarbakır escort , düzce escort , edirne escort , elazığ escort , erzincan escort , erzurum escort , eskişehir escort , gaziantep escort , giresun escort , gümüşhane escort , hakkari escort , hatay escort , ığdır escort , ısparta escort , istanbul escort , izmir escort , karabük escort , karaman escort , kars escort , kastamonu escort , kayseri escort , kilis escort , kırıkkale escort , kırklareli escort , kırşehir escort , kocaeli escort , konya escort , kütahya escort , malatya escort , manisa escort , maraş escort , mardin escort , mersin escort , muğla escort , muş escort , nevşehir escort , niğde escort , ordu escort , osmaniye escort , rize escort , sakarya escort , samsun escort , şanlıurfa escort , siirt escort , sinop escort , şırnak escort , sivas escort , tekirdağ escort , tokat escort , trabzon escort , tunceli escort , uşak escort , van escort , yalova escort , yozgat escort , zonguldak escort , kadıköy escort , şişli escort , tuzla escort , bornova escort , didim escort , serdivan escort