NHPC and Maharashtra Government Collaborate for Green Energy Initiatives
NHPC Limited, a prominent state-owned hydropower company, has recently signed a Memorandum of Understanding (MoU) with the government of Maharashtra for Green Energy Projects. The partnership aims to develop energy storage systems and various renewable energy sources, including solar, wind, and hybrid, with a combined capacity of 7,350 MW. The announcement was made by NHPC in its filing with stock exchanges on Tuesday.
While specific details regarding financial considerations and project timelines were not disclosed in the filing, NHPC stands as India’s largest organization dedicated to hydropower development. Over the years, the company has expanded its operations into the solar and wind energy sectors as well.
NHPC recently revealed its financial performance for the fiscal year 2022-23, reporting a consolidated net profit of Rs 3,890 crore, marking a 10% increase from the previous year’s Rs 3,524 crore. The company’s power stations successfully generated a total of 24,907 Million Units (MUs) of power during the financial year.
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Moreover, NHPC’s Board of Directors has recommended a final dividend of Rs 0.45 per share for the fiscal year 2022-23, in addition to the interim dividend of Rs 1.40 per share. Consequently, the total dividend for the year amounts to Rs 1.85 per share. Dividends serve as a reward to shareholders, though their distribution is not mandatory and is typically derived from a portion of a company’s earnings.
NHPC presently operates 25 power stations, boasting an installed capacity of 7,097.2 MW. Additionally, the company is actively engaged in the construction of 16 projects, which will collectively contribute a total installed capacity of 10,489 MW. NHPC has 12 projects in the clearance stage, with a combined capacity of 5,882 MW, and two projects in the survey and investigation stage, with a capacity of 890 MW.
About NHPC:
NHPC Limited, formerly known as the National Hydroelectric Power Corporation, is a government-owned hydropower board in India. It operates under the ownership of the Ministry of Power, Government of India, and was established in 1975 with an authorized capital of ₹2,000 million. The primary objective of NHPC is to plan, promote, and facilitate the integrated and efficient development of hydroelectric power in all its aspects. In recent times, NHPC has diversified its operations to include other sources of energy such as solar, geothermal, tidal, wind, and more.
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