+
Merger of hydropower companies proposed
POWER & RENEWABLE ENERGY

Merger of hydropower companies proposed

State-owned hydropower company NHPC is planning to merge with two other public sector hydro companies, THDC India Ltd and North Eastern Electric Power Corp. Ltd (Neepco). The merged entity is expected to have a market capitalization of around ₹70,000 crore.

The proposal to form a mega hydropower company comes at a time when the government is looking at increasing the share of hydropower in the country's energy mix. Currently, with 46.85 GW of installed capacity, hydropower forms 11.2% of the total installed power capacity in the country.

The Centre also plans to boost pumped hydropower storage projects. Last month, the power ministry came up with the guidelines for pumped storage projects and said that it would support them through concessional climate finance and rationalized environment clearances.

Last year, the government issued renewable purchase obligation norms to be followed till FY2029-30, which mandated the use of hydropower by distribution companies. According to rating agency ICRA, India would have to add 18 GW of hydropower by 2030 to meet its hydropower purchase obligation.

Also Read
5.58 lakh homes could be completed in 2023 across 7 cities
AAI reports Rs 34 billion profit, rebounds with surging revenues

State-owned hydropower company NHPC is planning to merge with two other public sector hydro companies, THDC India Ltd and North Eastern Electric Power Corp. Ltd (Neepco). The merged entity is expected to have a market capitalization of around ₹70,000 crore. The proposal to form a mega hydropower company comes at a time when the government is looking at increasing the share of hydropower in the country's energy mix. Currently, with 46.85 GW of installed capacity, hydropower forms 11.2% of the total installed power capacity in the country. The Centre also plans to boost pumped hydropower storage projects. Last month, the power ministry came up with the guidelines for pumped storage projects and said that it would support them through concessional climate finance and rationalized environment clearances. Last year, the government issued renewable purchase obligation norms to be followed till FY2029-30, which mandated the use of hydropower by distribution companies. According to rating agency ICRA, India would have to add 18 GW of hydropower by 2030 to meet its hydropower purchase obligation. Also Read 5.58 lakh homes could be completed in 2023 across 7 cities AAI reports Rs 34 billion profit, rebounds with surging revenues

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code