NHPC seeks to increase its portfolios of solar and wind power.

in image solar panel for wind generation

As part of its green energy strategy, the state-owned NHPC Ltd wants to increase its solar and wind power portfolio across the country.

In the face of a shift in the global energy architecture, state-run companies are shifting their focus to solar and wind energy, as well as investing in India's green economy. The public sector is showing an increasing interest in solar and wind energy. One example is state-run Gail (India) Ltd's focus on developing a renewable energy portfolio through competitive bidding and the acquisition of solar projects from private companies.

AK Singh, chairman and managing director of the state-run firm, said in a statement on Thursday, "Despite the ongoing Covid-19 pandemic, NHPC is in an aggressive mode of expansion and has all-India plans to expand its solar and wind power portfolio along with its core business of hydropower development".

This comes after India's largest hydropower company reported the highest standalone net profit of 3,233.37 crores in the past financial year, up 7.52 per cent from 3,007.17 crores in 2020-21.

According to the NHPC statement, "Revenue from operation for the FY 2020-21 stood at ₹8506.58 crores compared to ₹8735.15 crores in the last fiscal year. Consolidated net profit for 2020-21 stood at ₹3582.13 crores, compared to ₹3,344.91 crores in 2019-20. The total income of the group in 2020-21 was ₹10,705.04 crore as against ₹10,776.64 crores in 2019-20".

Source-Mint

 

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