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NHPC Board Approves 10-Year Cash Flow Monetization of Uri-II and Dhauliganga Power Stations
NHPC's Board has approved the monetization of future cash flows, specifically the Return on Equity (RoE), from its Uri-II and Dhauliganga Power Stations. This monetization will span a 10-year period and is scheduled to be executed in a single tranche during the financial year 2026-27. The move is designed to unlock immediate capital from existing assets, which can be redeployed into the company's extensive pipeline of new hydroelectric and renewable projects. The board also reserved the right to include other power stations in this monetization scheme if required.
Key Highlights
Monetization of future Return on Equity (RoE) approved for Uri-II and Dhauliganga Power Stations.
The monetization period is fixed for 10 years starting from FY 2026-27.
The transaction is planned as a single tranche to maximize immediate liquidity.
The proposal allows for the inclusion of additional power stations beyond the two named units.
Board meeting concluded on April 14, 2026, confirming the strategic shift toward asset recycling.
💼 Action for Investors
Investors should view this as a positive capital management strategy that provides non-dilutive funding for NHPC's capital expenditure. Monitor for the final valuation of the monetization deal as it will impact the company's cash reserves and debt-to-equity profile in FY27.
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NHPC Receives CCEA Approval for ₹26,069.50 Cr Kamala Hydro Electric Project (1720 MW)
The Cabinet Committee on Economic Affairs (CCEA) has approved a massive investment of ₹26,069.50 crore for the 1720 MW Kamala Hydro Electric Project in Arunachal Pradesh. The project will be implemented through a Joint Venture with the State Government and is expected to generate 6870 MUs of energy annually. The Government of India is providing substantial budgetary support of over ₹6,000 crore for infrastructure and flood moderation. While the completion period is long at 96 months, this significantly bolsters NHPC's long-term capacity growth and renewable energy footprint.
Key Highlights
Total investment of ₹26,069.50 crore approved for the 1720 MW Kamala Hydro Electric Project.
Expected annual energy generation of 6870 MUs with a project completion timeline of 96 months.
Government of India to provide ₹4,743.98 crore for flood moderation and ₹1,340 crore for infrastructure support.
Central Financial Assistance of ₹750 crore provided towards the equity share of the State Government.
Project to be executed via a Joint Venture between NHPC Limited and the Govt. of Arunachal Pradesh.
💼 Action for Investors
This is a significant long-term growth driver for NHPC; investors should view this as a positive development for the company's future revenue visibility, though the 8-year construction period requires a long-term investment horizon.
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NHPC Subsidiary Faces ₹231.78 Cr Tax Demand; Stake in RHPCL Rises to 51%
NHPC's subsidiary, NHDC Limited, has received an income tax demand notice of ₹231.78 crore for the assessment year 2024-25, which includes ₹45.31 crore in interest. The company clarified that the demand arose because the assessing officer failed to consider eligible MAT credit worth ₹184.37 crore and is filing for rectification under Section 154. Additionally, NHPC has increased its stake in Ratle Hydroelectric Power Corporation Limited (RHPCL) from 49.72% to 51% following a matching equity contribution. This change solidifies NHPC's majority control over the RHPCL subsidiary.
Key Highlights
NHDC Limited received a tax demand of ₹231.78 crore, including ₹45.31 crore in interest charges.
The tax dispute centers on ₹184.37 crore of MAT credit which the company claims was erroneously ignored by the tax department.
NHPC's shareholding and voting rights in RHPCL increased from 49.72% to 51% after equity allotment.
The company expects no significant financial impact once the tax rectification process is completed.
💼 Action for Investors
Investors should view the tax demand as a procedural matter likely to be resolved through rectification, given the MAT credit history. The increased stake in RHPCL is a positive consolidation of the company's hydroelectric project portfolio.
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NHPC Signs Agreement for 500 MW Hydro Projects (Uri-I & Dulhasti Stage-II) in J&K
NHPC Limited has signed a formal implementation agreement with Jammu & Kashmir State Power Development Corporation Limited (JKSPDCL) for two major hydroelectric projects. The projects include the 240 MW Uri-I Stage-II and the 260 MW Dulhasti Stage-II, totaling 500 MW of new capacity in Jammu & Kashmir. These projects will be developed on a Build-Own-Operate-Transfer (BOOT) basis for a long-term period of 40 years. This move strengthens NHPC's project pipeline and ensures long-term revenue visibility from the region.
Key Highlights
Agreement signed for 240 MW Uri-I Stage-II and 260 MW Dulhasti Stage-II projects
Total combined capacity addition of 500 MW in the UT of Jammu & Kashmir
Projects to be developed on a BOOT basis with a 40-year concession period
Partnership finalized with JKSPDCL following an earlier preliminary communication in Feb 2026
💼 Action for Investors
Investors should consider this a positive development for NHPC's long-term growth and asset base expansion. Monitor for updates regarding the commencement of construction and the estimated capital expenditure for these projects.
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NHPC Board Approves Borrowing Plan of up to Rs 8,000 Crore for FY 2026-27
NHPC Limited's Board of Directors has approved a proposal to raise debt up to Rs 8,000 crore during the financial year 2026-27. The funds are intended to be raised through a mix of Non-Convertible Corporate Bonds, Term Loans, and External Commercial Borrowings (ECB). This borrowing plan will be executed in one or more tranches on a private placement basis. Such a significant fundraise typically supports the company's capital-intensive hydroelectric projects and long-term expansion goals.
Key Highlights
Approved borrowing limit of up to Rs 8,000 crore for the financial year 2026-27.
Fundraising via Secured/Unsecured, Redeemable, Taxable, Non-Convertible Corporate Bonds.
Option to raise funds through Term Loans and External Commercial Borrowings (ECB) in suitable tranches.
Bonds to be issued on a private placement basis in one or more series/tranches.
💼 Action for Investors
Investors should view this as a routine but essential capital management step for a PSU to fund its long-gestation projects; monitor the impact on interest coverage ratios as the debt is drawn down.
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NHPC Board to Consider FY 2026-27 Borrowing Plan on March 25, 2026
NHPC Limited has scheduled a Board of Directors meeting for March 25, 2026, to deliberate on the company's borrowing plan for the financial year 2026-27. The proposal includes raising funds through various instruments such as secured or unsecured corporate bonds, term loans, and External Commercial Borrowings (ECB). Consequently, the trading window for NHPC securities will be closed for designated persons from March 19 to March 27, 2026. This meeting is a critical step in securing the necessary capital for the company's upcoming projects and operational needs in the next fiscal year.
Key Highlights
Board meeting scheduled for March 25, 2026, to approve the FY 2026-27 borrowing plan.
Fundraising options include corporate bonds, term loans, and External Commercial Borrowings (ECB).
Trading window closure period set from March 19, 2026, to March 27, 2026.
The borrowing plan is intended to meet financial requirements for the upcoming 2026-27 fiscal year.
💼 Action for Investors
Investors should watch for the board's decision on March 25 to understand the total debt quantum and the impact on the company's leverage and expansion plans. The focus on diverse borrowing instruments like ECBs suggests a strategy to optimize interest costs.
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NHPC Commissions 250 MW Unit #1 of Subansiri Lower Project; Total 750 MW Now Operational
NHPC Limited has declared the Commercial Operation (CoD) of Unit #1 (250 MW) of its 2000 MW Subansiri Lower Hydroelectric Project, effective March 20, 2026. This project, located across Assam and Arunachal Pradesh, consists of eight units of 250 MW each. With this latest commissioning, a total of three units (750 MW) have now achieved commercial operation status. The company expects to commission the remaining five units (1250 MW) in a phased manner, which will significantly enhance its revenue-generating capacity.
Key Highlights
Unit #1 (250 MW) to start commercial operations from 00:00 hours on March 20, 2026.
Subansiri Lower HE Project has a total planned capacity of 2000 MW (8 x 250 MW).
Three units (Unit #1, #2, and #3) are now in commercial operation, totaling 750 MW.
The project is a major hydroelectric asset situated in the Assam/Arunachal Pradesh region.
💼 Action for Investors
This is a positive development as it adds to NHPC's operational capacity and future cash flows. Investors should monitor the commissioning timeline for the remaining 1250 MW to gauge the full impact on the company's valuation.
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NHPC Raises ₹2,000 Crore through 7.29% AH Series Non-Convertible Bonds
NHPC Limited has successfully raised ₹2,000 crore via the private placement of unsecured, non-convertible bonds designated as the AH Series 2041. The bonds carry a fixed coupon rate of 7.29% per annum and have a long-term tenure of 15 years. Principal repayment is structured to occur in ten equal annual installments of ₹200 crore each, starting from the end of the 6th year (February 2032). This capital raise is part of the company's routine financing strategy for its long-gestation hydro and renewable energy projects.
Key Highlights
Raised ₹2,000 crore through private placement of 2,00,000 bonds at ₹1,00,000 each.
Fixed coupon rate of 7.29% p.a. with a 15-year tenure maturing on February 27, 2041.
Principal repayment structured in 10 annual installments of ₹200 crore starting from the 6th anniversary.
The bonds are unsecured, non-cumulative, and will be listed on the Wholesale Debt Market segments of BSE and NSE.
💼 Action for Investors
Investors should view this as a routine debt-raising activity by a high-rated PSU to fund capital expenditure; no immediate impact on equity valuation is expected.
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NHPC Approves ₹5,703 Crore Investment for 500 MW Hydro Projects in J&K
NHPC's board has approved investment proposals for two major hydroelectric projects in Jammu & Kashmir with a combined capacity of 500 MW. The Uri-I Stage-II (240 MW) project is estimated to cost ₹2,708.95 crore, while the Dulhasti Stage-II (260 MW) project is budgeted at ₹2,993.96 crore. Construction for both projects is scheduled to commence on March 1, 2026, pending final implementation agreements with the UT government. This move represents a significant capital expenditure aimed at long-term capacity growth.
Key Highlights
Approved Uri-I Stage-II HE Project (240 MW) with an estimated cost of ₹2,708.95 Crore
Approved Dulhasti Stage-II HE Project (260 MW) with an estimated cost of ₹2,993.96 Crore
Total combined investment outlay for both projects is approximately ₹5,702.91 Crore
Construction start date for both projects is targeted for March 1, 2026
Projects include specific allocations for Interest During Construction (IDC) and enabling infrastructure
💼 Action for Investors
Investors should look at this as a positive long-term capacity expansion that strengthens NHPC's dominant position in the hydro-power sector. Monitor the signing of the formal implementation agreements with the J&K government as the next key catalyst.
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NHPC 9M FY26 PAT Grows 7% to ₹2,306 Cr; Plans 10,000 MW New Project Starts in 2026
NHPC reported a steady 9M FY26 performance with revenue rising 10% YoY to ₹8,800 crore and PAT increasing 7% to ₹2,306 crore, primarily driven by the commissioning of Parbati-II. The company is entering a high-growth phase with the 2,000 MW Subansiri Lower project expected to be fully commissioned by December 2026. Management has guided for a massive expansion, planning to commence work on 10,000 MW of new capacity during 2026. Additionally, the company expects to commission over 1,000 MW of solar power within the current calendar year.
Key Highlights
9M FY26 power generation rose 15% YoY to 25,849 MUs following Parbati-II commissioning.
Subansiri Lower (2,000 MW) update: 2 units operational, 2 more by March 2026, and full completion by Dec 2026.
Planning to start 5-6 new projects totaling ~10,000 MW capacity in 2026, including the 3,097 MW Etalin project.
Renewable expansion: Targeting >1,000 MW solar commissioning in 2026 and starting ~2,000 MW of Pumped Storage Plants.
9M FY26 Revenue from Operations stood at ₹8,800 Crore, up 10% from ₹8,033 Crore in the previous year.
💼 Action for Investors
Investors should maintain a positive outlook as NHPC transitions from a construction-heavy phase to a commissioning phase for major projects like Subansiri Lower. The massive 10,000 MW pipeline and entry into Pumped Storage provide strong long-term visibility for regulated equity growth.
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NHPC Releases Investor Presentation for Q3 and 9M FY2025-26 Financial Results
NHPC Limited has officially released its investor presentation covering the un-audited financial results for the third quarter and nine months ending December 31, 2025. The Board of Directors approved these standalone and consolidated results during their meeting on February 4, 2026. The presentation provides a detailed breakdown of the company's financial performance and operational updates. This disclosure is a standard regulatory requirement following the quarterly earnings announcement to provide deeper insights to the investor community.
Key Highlights
Board of Directors approved Q3 and 9M FY26 results on February 4, 2026.
The presentation includes both Standalone and Consolidated financial data.
The document is now accessible via the company's official website for public review.
The filing serves as a supplementary update to the financial results declared earlier.
💼 Action for Investors
Investors should access the full presentation on NHPC's website to analyze specific revenue growth and margin trends. Maintain a watch on the stock for performance relative to the power sector benchmarks.
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NHPC Declares ₹1.40 Interim Dividend and Relinquishes Promoter Status in PTC India
NHPC Limited has declared an interim dividend of ₹1.40 per share (14%) for FY 2025-26, with the record date set for February 10, 2026. The company reported a profit of ₹2,290.26 crore for the nine-month period ending December 31, 2025, showing a slight increase from ₹2,190.06 crore in the previous year. Strategically, NHPC is relinquishing its 'Promoter' status in PTC India Limited and withdrawing its nominee director following a Ministry of Power directive. Furthermore, the company has cancelled its MoU with GEDCOL for floating solar projects in Odisha, indicating a shift in its joint venture strategy.
Key Highlights
Interim dividend of ₹1.40 per equity share (14% of face value) declared for FY 2025-26.
Record date for dividend eligibility fixed as Tuesday, February 10, 2026.
9M FY26 profit after tax stands at ₹2,290.26 crore compared to ₹2,190.06 crore in 9M FY25.
Relinquishment of 'Promoter' status and rights in PTC India Limited as per Ministry of Power directive.
Cancellation of MoU and Promoters’ Agreement with GEDCOL for floating solar projects in Odisha.
💼 Action for Investors
Investors should ensure they hold shares by the February 10 record date to qualify for the ₹1.40 dividend. While the exit from PTC India and the Odisha JV cancellation represent strategic shifts, the core financial performance remains stable.
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NHPC Declares ₹1.40 Interim Dividend; Cancels Odisha Solar JV and Exits PTC India Promoter Status
NHPC's Board has approved an interim dividend of ₹1.40 per share (14%) for FY 2025-26, with the record date set for February 10, 2026. The company reported a standalone profit of ₹292.87 crore for Q3 FY26, a sharp decline from ₹925.52 crore in the preceding quarter due to higher expenses. Strategically, NHPC is cancelling its floating solar JV with GEDCOL in Odisha and relinquishing its 'Promoter' status in PTC India following Ministry of Power directives. Despite the quarterly dip, 9M FY26 revenue grew to ₹7,587.01 crore compared to ₹6,935.72 crore in the previous year.
Key Highlights
Declared interim dividend of ₹1.40 per equity share (14% of face value) for FY 2025-26.
Standalone Q3 FY26 profit after tax fell to ₹292.87 crore from ₹925.52 crore in Q2 FY26.
Terminated MoU and Promoters’ Agreement with GEDCOL for floating solar projects in Odisha reservoirs.
Withdrawing Nominee Director and relinquishing 'Promoter' status in PTC India Limited.
9M FY26 total income rose to ₹8,533.91 crore, up from ₹8,118.06 crore in the same period last year.
💼 Action for Investors
Investors should track the record date of February 10 for dividend eligibility and monitor the impact of the PTC India exit on strategic influence. The sequential drop in quarterly profit due to a spike in 'Other Expenses' to ₹1,474.37 crore requires further analysis of operational efficiency.
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NHPC Declares ₹1.40 Interim Dividend; Q3 Net Profit Rises to ₹292.87 Crore
NHPC Limited has declared an interim dividend of ₹1.40 per share (14%) for FY 2025-26, with a record date of February 10, 2026. The company reported a standalone net profit of ₹292.87 crore for Q3 FY26, showing a 7% year-on-year growth despite a slight dip in revenue from operations to ₹1,877.47 crore. Strategically, the board approved the relinquishment of NHPC's promoter status in PTC India and the cancellation of a floating solar joint venture in Odisha. For the nine-month period ending December 2025, standalone profit remains healthy at ₹2,290.26 crore.
Key Highlights
Interim dividend of ₹1.40 per equity share (14% of face value) declared for FY 2025-26.
Standalone Q3 FY26 net profit increased to ₹292.87 crore from ₹273.60 crore in Q3 FY25.
Nine-month FY26 standalone profit grew to ₹2,290.26 crore compared to ₹2,190.06 crore YoY.
Board approved the withdrawal of nominee director and relinquishment of 'Promoter' status in PTC India.
Cancellation of MoU with GEDCOL for floating solar projects in Odisha reservoirs was approved.
💼 Action for Investors
Investors should ensure they hold shares by the February 10 record date to qualify for the ₹1.40 dividend. The steady earnings growth and strategic exit from non-core promoter roles like PTC India suggest a focused management approach.
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NHPC Declares ₹1.40 Interim Dividend; Q3 Net Profit Rises to ₹292.87 Crore
NHPC Limited has declared an interim dividend of ₹1.40 per equity share (14%) for FY 2025-26, with the record date set for February 10, 2026. For Q3 FY26, the company reported a standalone net profit of ₹292.87 crore, a 7% increase from ₹273.60 crore in the year-ago period, despite a 4.7% dip in revenue from operations to ₹1,877.47 crore. The company also announced strategic shifts, including relinquishing its promoter status in PTC India and cancelling a floating solar joint venture in Odisha.
Key Highlights
Interim dividend of ₹1.40 per share declared with a record date of February 10, 2026
Q3 FY26 standalone PAT at ₹292.87 crore vs ₹273.60 crore YoY, supported by regulatory deferral account movements
Revenue from operations for the quarter fell to ₹1,877.47 crore from ₹1,970.35 crore YoY
Relinquishing 'Promoter' status and rights in PTC India Limited as per Ministry of Power directives
Cancellation of MoU with GEDCOL for floating solar power projects in Odisha
💼 Action for Investors
Income-seeking investors can benefit from the steady dividend payout, but should monitor the impact of project cancellations and the PTC India exit on future growth prospects.
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NHPC Q3 Net Profit Rises to ₹293 Cr; Declares ₹1.40 Interim Dividend
NHPC reported a standalone net profit of ₹292.87 crore for the quarter ended December 31, 2025, representing a 7% growth compared to ₹273.60 crore in the same period last year. The company declared an interim dividend of ₹1.40 per share (14% of face value) with a record date of February 10, 2026. Strategically, NHPC is streamlining its portfolio by relinquishing its 'Promoter' status in PTC India and cancelling a floating solar JV in Odisha. For the nine-month period, net profit remains healthy at ₹2,290.26 crore, up from ₹2,190.06 crore YoY.
Key Highlights
Standalone Net Profit for Q3 FY26 increased to ₹292.87 crore from ₹273.60 crore YoY.
Interim dividend of ₹1.40 per equity share (14%) declared for FY 2025-26.
Revenue from operations for the quarter stood at ₹1,877.47 crore versus ₹1,970.35 crore YoY.
Relinquished 'Promoter' status and rights in PTC India Limited following Ministry of Power directives.
Cancelled MoU and Promoters' Agreement with GEDCOL for floating solar projects in Odisha.
💼 Action for Investors
Investors can benefit from the steady dividend payout and should view the exit from PTC India as a move toward focusing on core power generation. The stock remains a solid defensive pick for long-term portfolios seeking yield and stable earnings.
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NHPC Board Approves Rs 2,000 Crore Bond Issuance via Private Placement
NHPC Limited's Board of Directors has approved the issuance of AH-Series Bonds worth up to Rs 2,000 crore. These bonds are unsecured, redeemable, taxable, and non-convertible, intended to be issued in one or more tranches. This fundraising activity is part of the company's pre-approved borrowing plan for the financial year 2025-26. The issuance will be conducted through a private placement route, targeting institutional investors.
Key Highlights
Board approved issuance of AH-Series Bonds up to a total of Rs 2,000 crore
Bonds are unsecured, redeemable, taxable, and non-convertible in nature
Fundraising is part of the company's borrowing plan for FY 2025-26
Approval includes the General Information Document (GID) and Key Information Document (KID) for the issue
The issuance will be executed in one or more tranches through private placement
💼 Action for Investors
Investors should monitor the coupon rates at which these bonds are placed to gauge the company's cost of debt. This is a routine capital-raising activity for a PSU to fund its ongoing projects and does not necessitate immediate portfolio changes.
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NHPC Board to Meet on Feb 4, 2026, for Q3 Results and Interim Dividend Consideration
NHPC Limited has scheduled a Board of Directors meeting on February 4, 2026, to approve un-audited financial results for the quarter and nine months ending December 31, 2025. A key highlight for shareholders is that the board will also consider a proposal for an interim dividend for the financial year 2025-26. In compliance with SEBI insider trading regulations, the trading window for designated persons will remain closed from January 1, 2026, to February 6, 2026. This announcement signals potential cash returns to investors alongside the quarterly performance update.
Key Highlights
Board meeting scheduled for February 4, 2026, to approve Q3 and 9M FY26 results
Proposal for interim dividend for FY 2025-26 to be considered during the meeting
Trading window for insiders closed from January 1, 2026, to February 6, 2026
Results will include both standalone and consolidated financial statements
💼 Action for Investors
Investors should watch for the dividend announcement on February 4th, as NHPC is known for consistent payouts. Monitor the Q3 earnings for growth in power generation revenue and operational efficiency.
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NHPC Completes Successful Trial Run of 250 MW Unit #2 at Subansiri Lower Project
NHPC Limited has achieved a significant milestone with the successful trial run of Unit #2 (250 MW) at its Subansiri Lower Hydroelectric Project on December 18, 2025. This project, located on the Assam/Arunachal Pradesh border, is a massive 2,000 MW undertaking comprising eight units of 250 MW each. The completion of this trial run indicates that the project is moving steadily toward commercial operations after various historical delays. This development is expected to eventually contribute significantly to NHPC's power generation capacity and revenue stream.
Key Highlights
Successful trial run of Unit #2 with 250 MW capacity completed on December 18, 2025.
Subansiri Lower HE Project has a total installed capacity of 2,000 MW (8 x 250 MW units).
The project is a critical asset for NHPC located at the Assam and Arunachal Pradesh border.
Trial run completion marks a key step toward full commercial commissioning of the unit.
💼 Action for Investors
Investors should maintain a positive outlook as NHPC nears the monetization of its largest project; monitor for the official Commercial Operation Date (COD) announcement.
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NHPC Synchronizes 250 MW Unit of Subansiri Lower Project with National Grid
NHPC Limited has successfully achieved the test synchronization of Unit #2 (250 MW) of its 2000 MW Subansiri Lower Hydroelectric Project with the national grid on December 2, 2025. This is a critical milestone for the mega-project, which has faced several delays in the past. The company expects to start Commercial Operation (CoD) for this specific unit within December 2025. This development signals that the project is finally nearing phased operationalization, which will eventually contribute significantly to the company's top-line growth.
Key Highlights
Successful test synchronization of 250 MW Unit #2 achieved on December 2, 2025
Subansiri Lower HE Project has a total planned capacity of 2000 MW
Commercial Operation (CoD) of Unit #2 is expected to commence in December 2025
The project is a major capacity addition for NHPC, being one of India's largest hydro projects
💼 Action for Investors
Investors should maintain a positive outlook as the company begins to monetize its massive capital expenditure in the Subansiri project. Monitor for the final Commercial Operation Date (CoD) announcement later this month.