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According to the company’s CMD, Abhay Kumar Singh, the state-owned NHPC, India’s largest hydropower corporation, intends to build new hydro and solar projects with a combined capacity of more than 27,000 MW (27 GW) in nine states and neighbouring country, Nepal.
The new capacities would be built in Uttar Pradesh, Bihar, Rajasthan, Tamil Nadu, Odisha, Kerala, Andhra Pradesh, Maharashtra, and Odisha.
The NHPC is in discussions with some of the states that have expressed interest in the projects, and Singh is confident of them engaging in the process as well.
Singh stated that Nepal is also interested in joint venture hydro projects with NHPC. Following his recent visit to Nepal, Singh discussed the project with the Prime Minister.
When asked about the availability of funds for the projects, he stated, “At the moment, NHPC will have no difficulty incurring a capital expenditure of Rs 10,000 crore. We have a profit of roughly Rs 3,500 crore, which will rise to Rs 5,000 crore, allowing us to expand our investment to Rs 13,000 crore.”
As a PSU, the company has also supported initiatives in lagging states, particularly those in East India, to discover ways to encourage increased renewable adoption.
In addition, several of these states are now the most reliant on thermal electricity, with hydro being the only alternative that will qualify as renewable for them.
He went on to say that many NHPC projects, particularly in the Northeast, have been blocked for a long time. The company is endeavouring to restart them.
The 2,000 MW Subansiri lower hydropower project in Assam and Arunachal Pradesh is making good progress. Furthermore, the 2,880 MW dam will begin soon in Dibang, after the corporation has conquered all obstacles.
According to Singh, the NHPC is now working on projects with a total capacity of 6,000 MW, with another 9,000-10,000 MW in the queue.
Singh stated that the corporation will fulfil its aim of 50,000 MW (50 GW) of energy capacity, which includes solar, within a reasonable time frame.
“We have broken down the capacity we need to build by 2025, 2030, and 2040, and we will achieve our objectives appropriately,” added the CMD.