NHPC said that it has received letter of intent by Gujarat Urja Vikas Nigam (GUVNL) for a 200 megawatt (MW) solar power project at the 1125 MW Gujarat State Electricity Corporation (GSECL's) renewable energy (RE) Park in Khavda, Gujarat.
The estimated financial implication for the said solar power project would be Rs 846.66 crore.NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 31 December 2023, the Government of India held 70.95% stake in the company.
The power generation company reported 26.76% decline in consolidated net profit to Rs 491.90 crore in Q3 FY24 from Rs 671.67 crore recorded in Q3 FY23. Revenue from operations decreased 20.41% year on year (YoY) to Rs 2,055.50 crore in the quarter ended 31 December 2023.
Shares of NHPC declined 2.03% to Rs 83.30 on the BSE.
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