NHPC Limited

NHPC Limited, the country’s leading hydropower producer, reported a net profit of Rs 1,131 crore for the first quarter, marking a 3% year-on-year increase. The modest growth highlights the company’s operational stability amid variable hydrological conditions and ongoing market challenges. Supported by consistent power generation and effective cost control, NHPC’s financial performance underscores its critical role in India’s renewable energy sector.

Rajendra Prasad Goyal, Director (Finance) at NHPC Limited, has once again assumed the additional charge of Chairman and Managing Director (CMD), effective July 1, 2025. This interim appointment follows the retirement of Raj Kumar Chaudhary, who demitted office upon reaching superannuation. Goyal, a seasoned finance executive with over 36 years of experience at NHPC, has previously served in this capacity from March to August 2024.

ACME Solar Holdings has signed a landmark 25-year power purchase agreement with NHPC Limited, signaling a strategic leap in India’s renewable energy landscape. Under this agreement, ACME will deliver 250 MW of firm and dispatchable renewable energy (FDRE) from its Rajasthan project at a tariff of Rs. 4.56 per kWh. The project, which integrates solar, wind, and battery storage technologies, is designed to supply at least 40% Capacity Utilization Factor (CUF) annually while fulfilling 90% of peak power demand for four hours daily.

India’s largest under-construction hydroelectric project—the 2,000 MW Subansiri Lower Hydro Electric Project—has encountered fresh delays, with its completion now pushed to May 2026, extending an already protracted timeline by over a decade. The project, located on the Assam-Arunachal Pradesh border, also suffered minor damages to its spillway during the recent monsoon, although NHPC has assured there is no structural threat to the dam. Originally scheduled for commissioning in 2012, the project’s cost has ballooned from Rs. 6,285 crore to an estimated Rs. 26,075 crore.

The Public Enterprises Selection Board (PESB) has recommended Bhupender Gupta for the position of Chairman and Managing Director (CMD) of NHPC Limited. Gupta, who currently serves as Director (Technical) at THDC India Limited, a subsidiary of NTPC, was one of several candidates who underwent the interview process. The recommendation marks a significant move for NHPC, India's largest hydropower development organization, as it continues its transition into renewable energy sources like solar and wind.