NHPC approves proposal to form a subsidiary for RE projects

The Board of Directors of NHPC Limited has approved the proposal for setting up a subsidiary for the development of renewable energy (RE), small hydro and green hydrogen projects.

The wholly owned subsidiary company would be formed subject to the approval of the Government of India. The board has approved aninitial equity of Rs 200 million for the proposed subsidiary. The board has also approved the formation of another wholly-owned subsidiary by NHPC to act as an investment vehicle and company for commissioned hydropower projects for facilitating the monetisation of investments.