State-owned hydropower company NHPC Limited has signed a Memorandum of Understanding (MoU) with the Maharashtra government to establish energy storage systems and other renewable energy sources with a total capacity of 7,350 MW, according to a stock filing. NHPC, which has capabilities in all aspects of hydro-related projects and has diversified into solar and wind energy, did not disclose other financial details or the timeline of the project. In May, NHPC reported a consolidated net profit of INR38.9 billion ($523 million) for the 2022-23 financial year, up 10% from INR35.24 billion the previous year. NHPC has 25 operational power stations with a total installed capacity of 7,097.2 MW, and is constructing 16 other projects with a combined installed capacity of 10,489 MW, along with 12 projects at the clearance stage with an aggregate capacity of 5,882 MW and two at the investigation stage with a capacity of 890 MW.
NHPC and Maharashtra Ink MoU to Boost Renewable Energy Projects
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