NHPC added 2.59% to Rs 101.15 after the firm signed the power purchase agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL) on 27 June 2024 for 200 MW capacity solar power project.
The solar power project will be executed in GSECLs RE-park at Khavda (GSECL Stage-3). The estimated financial implication for the project would be approximately Rs 846.66 crore.The time period for executing the project is 15 months from the date of execution of the PPA.
NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 31 March 2024, the Government of India held 67.40% stake in the company.
NHPC reported 18.03% decline in consolidated net profit to Rs 610.93 crore on 6.93% decrease in revenue from operations to Rs 1,888.14 crore in Q4 FY24 over Q4 FY23.
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