Indian government hydropower board, NHPC, plans to list its solar subsidiary separately on Dalal Street in the next three years, the management told CNBC-TV18 in an exclusive interview post its second-quarter earnings.
RP Goyal, Director of Finance at NHPC discussed the project execution timeline, outlook for the company and the green energy opportunity it sees in detail.
The company has a 12 percent return on equity for solar projects and has already created a 100 percent subsidiary to develop and transfer the solar projects into separate entities.
“We will develop the solar projects in NHPC itself and thereafter we will transfer these projects to our 100 percent subsidiary, NHPC Renewable Energy Ltd,” Goyal explained.
NHPC has been awarded solar energy contracts from Andhra Pradesh, Rajasthan and Gujarat for a total of 1,000 MW.
The company has also signed an MoU with the Rajasthan government for the development of a 10,000 MW capacity plant in the coming years.
Hydro Power
Currently, the company has eight projects under construction. Out of these, Subansiri Lower Project (2000 MW) and Parbati II Project (800 MW) will be commissioned in FY23-FY24.
The company also plans to commission three hydro projects in FY25-FY26. “By FY26-FY27 our capacity addition will be Rs 6,500 MW from hydro and 1,000 MW from solar,” said Goyal.
For the full interview, watch the accompanying video
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(Edited by : Abhishek Jha)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
