NHPC sets up new vertical for development of renewable energy, small hydro and green hydrogen projects

NHPC Limited has set up a new wholly owned subsidiary company, NHPC Renewable Energy Limited, for development of renewable energy (RE), small hydro and green hydrogen

The incorporation of a new subsidiary shows NHPC’s deep commitment towards tapping RE which helps in reduction of carbon emissions and in producing clean and green energy. The decision of setting up a subsidiary for RE comes at a time when NHPC which is predominantly a hydro player, plans to increase the share of RE in its generation portfolio. The formation of a separate RE unit got the nod of Department of Investment and Public Asset Management and NITI Aayog in December 2021. The subsidiary company will develop RE projects either in standalone mode or through formation of special purpose vehicles with collaboration of other agencies.