About
NHPC Ltd
NHPC Ltd is a Mini-Ratna Category-I Enterprise of the Government of India. The Company is one of the largest organisations in the field of hydro power development in the country. The Company is a hydroelectric power generating company dedicated to the planning, development and implementation of an integrated and efficient network of hydroelectric projects in India. They execute all aspects of the development of hydroelectric projects, from concept to commissioning of the projects.
NHPC Ltd was incorporated on November 7, 1975 as a private limited company under the name National Hydro Electric Power Corporation Pvt Ltd. In April 2, 1986, the company was converted into a public limited company. The company was established with an objective to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects. Later, they expanded their objects to include development of power in all aspects through conventional and non-conventional sources in India and abroad.
During the year 1976-77, the company received Loktak hydroelectric project with a capacity of 105 MW from Government of India and in the next year, they received Baira Siul hydroelectric project with the capacity of 180 MW. In the year 1982-83, the company commissioned the Baira Siul power station in Himachal Pradesh.
During the year 1983-84, the company commissioned all the units Devighat power station in Nepal and Loktak power station (105 MW) in Manipur. During the next year, they set up a Hydro Power Training Institute at the Baira Siul hydroelectric project to train operators and supervisory staff.
During the year 1987-88, the company established a satellite telecommunication network up to link various projects. During the year 1989-90, the Government of India upgraded the company from a Schedule B to a Schedule A corporation. During the year 1992-93, the company set up a consultancy wing to provide a range of specialised services in the investigation, design, construction and operation of hydel projects. Also, they commissioned Tanakpur power station with the capacity of 120 MW in Uttarakhand.
During the year 1995-94, the company commissioned Chamera I power station with the capacity of 540 MW in Himachal Pradesh. Also, the company was awarded the lining work of Jawahar Tunnel in Jammu & Kashmir during the year. During the year 1995-96, they signed an agreement for execution of Kurichhu hydroelectric project with the capacity of 45 MW in Bhutan.
During the year 1997-98, the company commissioned the Uri power station with the capacity of 480 MW in Jammu & Kashmir and during the year 1999-2000, they commissioned Rangit power station with the capacity of 60 MW in Sikkim.
During the year 2000-01, the company commissioned 45 MW Kurichhu power station in Bhutan. The company entered into an MoU with Government of Madhya Pradesh to exploit the hydro electric potential of the Narmada basin by completing the Indira Sagar and Omkareshwar projects. Also they entered into an MoU with Government of Jammu & Kashmir to exploit the power potential of the state.
During the year 2003-04, the company commissioned the 300 MW Chamera- II power station in Himachal Pradesh. During the next year, NHDC, a joint venture company commissioned 1,000 MW Indira Sagar hydroelectric project in Himachal Pradesh.
During the year 2006-07, the company added 390 MW generating capacity with the commissioning of Dul Hasti Hydroelectric Project in Jammu & Kashmir. The company entered into an agreement with Government of Bhutan for preparation of DPR of Mangdechhu project with the capacity of 672 MW in Bhutan.
During the year 2007-08, the company commissioned 510 MW Teesta-V power station. NHDC, the joint venture company commissioned 520 MW Omkareshwar hydroelectric project in Madhya Pradesh. The company entered into an MoA with the Government of Arunachal Pradesh to execute the Dibang multipurpose hydroelectric project. Also, they entered into an MoU with the government of Manipur to exploit the hydro electric potential of the tailrace discharge of Loktak Downstream Hydroelectric Project.
During the year, the company signed an MoU with the Ministry of Rural Development, Government of India and Government of Bihar for construction of Rural Roads and the maintenance under Pradhan Mantri Gram Sadak Yogna in Bihar. The name of the company was changed from National Hydro Electric Power Corporation Ltd to NHPC Ltd with effect from March 28, 2008. The company was conferred with Mini-Ratna (Category I) status by the Ministry of Power with effect from April 28, 2008.
During the year 2008-09, the company entered into an MoU with the Government of Jammu & Kashmir, JKSPDC and PTC to incorporate a joint venture develop the Pakal Dul and other hydro projects in the Chenab River Basin. Also, the company along with NTPC, PFC and Tata Consultancy Services Ltd incorporated a joint venture company, namely National Power Exchange Ltd.
During the year 2009-10, the company along with NTPC, Powergrid Corporation of India Ltd and Damodar Valley Corporation incorporated a joint venture company, namely National High Power Test Laboratory Pvt Ltd.
In January 8, 2010, the company signed an agreement with Ministry of External Affairs (MEA), Government of India for taking up Additional Investigations and Preparation of Updated Detailed Project Reports for 1200 MW Tamanthi HE Project and 642 MW Shwezaya HE Project in Myanmar.
In March 23, 2010, the company has signed an agreement with Department of Energy, Royal Govt. of Bhutan for providing engineering & consultancy services relating to pre-construction activities of Mangdechhu Hydroelectric Project (720 MW) in Bhutan at a total cost of Rs 11.67 crore.
In April 28, 2010, an MoU was signed amongst NHPC Ltd, Government of Manipur and SJVN Ltd for formation of a joint venture company for implementation of 1500 MW Tipaimukh Hydroelectric (Multipurpose) Project in Manipur. NHPC Ltd, SJVN Ltd and Government of Manipur shall have a share holding of 69%, 26% and 5% respectively.
The Unit-I of SEWA-II HE Project started commercial operation with effect from June 29, 2010. Also, the SEWA-II H.E. Project (120 MW) started commercial operation with effect from July 24, 2010, consequent upon successful trial run of balance Unit-II (40 MW) of the Project.
During the year 2010-11, a joint venture company, the Loktak Downstream Hydroelectric Corporation Ltd, was formed for executing the 66 MW Loktak Downstream Project in Manipur with a 74% by the company and 26% by the Government of Manipur. The company signed a joint venture agreement with SJVN Ltd and the Government of Manipur to implement the 1,500 MW Tipaimukh Hydroelectric (multipurpose) Project in Manipur with shareholding of NHPC, SJVNL and the Government of Manipur being ratio of 69:26:5 respectively.
In September 29, 2010, the 120 MW SEWA-II Power Station (3x40) 120 MW in Jammu and Kashmir was dedicated to the nation. With the commissioning of Sewa-II, the compaby's installed capacity increased to 5,295 MW through their 14 operating power stations (including the 1,000 MW Indira Sagar and 520 MW Omkareshwar Power Stations of NHDC Ltd, a subsidiary of NHPC and the Government of Madhya Pradesh).
In March 2011, the company signed an agreement with the Department of Energy, Royal Government of Bhutan for providing engineering consultancy services for pre-construction activities at the Mangdechhu H.E. Project (720MW) in Bhutan. In May 23, 2011, the company signed a MoU with Russia's power generating Company JSC RusHydro for Cooperation on case-to-case basis in Hydropower projects in India and other countries.
In June 2011, the company incorporated a new joint venture (JV) company, namely Chenab Valley Power Projects (P) Ltd to execute Pakul Dul and other hydroelectric projects, with an aggregate installed capacity of about 2100 MW in the Chenab basin in the state of Jammu & Kashmir. The equity share capital in the Chenab Valley Power Projects shall be contributed by NHPC, Jammu and Kashmir State Power Development Corporation and PTC India in the ratio of 49:49:2 respectively. The company signed one more MoU for a joint venture company with OHPC and the Government of Orissa to implement three hydroelectric projects -SINDOL-I,II and III, with a total capacity of 320 MW on the Mahnandi river, downstream of Hirakund in Orissa.
On 4 July 2014, NHPC announced that it has commissioned all the three units of its 231 MW (77 MW x 3) Chamera-III Hydroelectric Project in Himachal Pradesh. All the three units of the project have been put on commercial operation. The project would generate 1104 million units annually in a 90% dependable year. The power generated from Chamera III will benefit the states of Himachal Pradesh, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, Haryana, Jammu & Kashmir, Delhi and Chandigarh (UT). A share of 12% of the generated energy will be given to State Government of Himachal Pradesh as free power.
On 4 July 2014, NHPC's 240 MW URI-II Power station located in Baramulla district of Jammu and Kashmir was dedicated to the nation by Prime Minister Narendra Modi.
On 12 August 2014, NHPC's Chutak Hydro Power Station (44 MW) in Jammu and Kashmir was dedicated to the nation by Prime Minister Narendra Modi. The Chutak Hydro Project is a run-off-river scheme on the river Suru, to generate 216 million units in a 90% dependable year having installed capacity of 44 MW. The first unit was commissioned on November 2012 and all the balance three units were commissioned in February 2013. It has been completed at a cost of Rs 894 crore and total power generated from this power station will be supplied to Jammu & Kashmir state.
On 17 October 2014, Promoters' Agreement was signed between NHPC and Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) for setting up a Joint Venture Company for implementation of Solar Power Projects in Uttar Pradesh. Initially this JVC proposes to implement a 50 MW grid connected Solar Power Project at Parason (Tehsil - Kalpi), District - Jalaun, Uttar Pradesh, for which MoU was signed on 8 August 2013 between UPNEDA and NHPC. This is the first solar power project of NHPC.
On 3 July 2015, a Memorandum of Understanding was signed among NHPC, the West Bengal state government and West Bengal State Electricity Distribution Company Limited (WBSEDCL) for development of four hydro projects with total capacity of 293 MW in Teesta Basin. These projects are 80 MW Teesta Low Dam-V, 81 MW Teesta Low Dam I & II combined, 84 MW Teesta Intermediate Stage, and 48 Rammam Stage-I all located in District Darjeeling of West Bengal. These projects shall be developed on Build, Own, Operate and Maintain (BOOM) basis by NHPC.
On 21 July 2016, NHPC executed Memorandum of Understanding (MoU) with Bharat Heavy Electricals (Bhel) to associate for undertaking hydropower projects in overseas markets with Bhel undertaking the electro-mechanical package and related works and NHPC undertaking civil and related works of the hydropower projects.
On 1 August 2016, NHPC achieved successful spinning of the 4th Unit of the 4x40 MW (160 MW) Teesta Low Dam-IV Hydroelectric project in Darjeeling District of West Bengal. Teesta Low Dam-IV Hydroelectric project will generate 720 million units of electricity in a 90% dependable year on commissioning of all its four units. The sole beneficiary state of this project is West Bengal.
On 8 September 2016, NHPC announced that it has signed a Contract Agreement with Bharat Heavy Electricals (Bhel) for R&M (Renovation and Modernization) of 180 MW Baira Siul Power Station, Himachal Pradesh. Baira Siul will be NHPC's first power station where R&M works will be undertaken for purpose of life extension of the generating station. Baira Siul was the first Power Station of NHPC since it began its journey towards becoming a hydro major in the country.
On 18 October 2016, NHPC's Parbati-III Power Station (520 MW) was dedicated to the nation by Prime Minister Narendra Modi. The power plant is designed to generate 1963.29 million units annually. The power generated from the Parbati-III Power Station is distributed to beneficiary states i.e. Himachal Pradesh, Jammu & Kashmir, Punjab, Uttarakhand, Uttar Pradesh, Haryana, Delhi, Rajasthan and Union Territory of Chandigarh.
On 2 November 2016, NHPC announced the commissioning its first 50 MW Wind Power Project located at Lakhmana, Jaisalmer District in Rajasthan. The project has been constructed on EPC basis with a cost of Rs 302.50 crore.
The Board of Directors of NHPC at its meeting held on 7 February 2017 approved the buy back by the company of its fully paid-up equity shares of Rs 10 each not exceeding 81.13 crore equity shares representing 7.33% of the total number of equity shares in the paid-up share capital of the company at a price of Rs 32.25 per share for an aggregate consideration not exceeding Rs 2616.59 crore through the Tender Offer route.
On 17 July 2017, NHPC announced the signing of a Power Purchase Agreement (PPA) in respect of seven power stations namely Bairasiul, Salal, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III with BSES Rajdhani Power Limited for a period of 35 years from the date of commercial operation of respective power stations.
On 9 August 2017, NHPC announced the signing of a Power Purchase Agreement (PPA) in respect of seven power stations namely Bairasiul, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III with BSES Yamuna Power Limited for a period of 35 years from the date of commercial operation of respective power stations.
The third unit (110 MW) of the Kishanganga Hydroelectric Project (3 x 110MW) of NHPC at Bandipora, Jammu & Kashmir was commissioned in March 2018.
In 2017-18, the Company commissioned a 50 MW Solar Power Project in Theni/ Dindigul District of Tamil Nadu effective on March 23, 2018. It installed roof top solar power plants at its various projects/power stations including corporate office with aggregate capacity of 860 KWp. First unit of Parbati-II H.E. Project was synchronized on part-load. Erection of all radial gates of dam was completed.
During the year 2017-18, NHPC further invested Rs 122.36 crore in CVPPPL. The shareholding of NHPC was increased to 55.39% as on March 31, 2018 and therefore, CVPPPL became subsidiary of NHPC Limited.
During the financial year 2018-19, the Company installed roof-top/ ground mounted solar power panels at its various locations having capacity of 634.7 KWp. Further, it installed 1.00 MWp Solar Power Plant at rooftop of different buildings of NHPC Residential Complex, Faridabad in June, 2019.
During the financial year 2019-20, Government of India had divested 2.38% of total paid-up Share Capital of the Company through Bharat 22 Exchange Traded Fund (ETF) in October, 2019 and CPSE ETF in February, 2020. After the divestment, holding of the Government of India in the Company was reduced at 70.95% of the total paid up capital of the Company.
During the financial year 2019-20, NHPC has taken over Lanco Teesta Hydro Power Limited (LTHPL) for the implementation of Teesta VI HE Project (500 MW) in Sikkim through Corporate Insolvency Resolution Process (CIRP) in October, 2019. It was first Central Public Sector Enterprise's takeover of a Company through CIRP. After takeover, LTHPL became wholly owned subsidiary of NHPC Limited.
Ratle Hydroelectric Power Corporation Limited, a Joint Venture Company of NHPC Limited and Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL) was incorporated on June 1, 2021 with equity participation of 51:49 respectively, for implementation of Ratle Hydro-electric Project (850 MW) in the Chenab River Basin in Union Territory of Jammu and Kashmir.
Chenab Valley Power Projects Private Limited (Earlier a Joint Venture Company of NHPC (49%), JKSPDCL (49%) and PTC (2%)) became Subsidiary Company of NHPC consequent upon taking over of 2% equity of PTC India Limited (PTC) in CVPPPL by NHPC Limited in June, 2021. Jalpower Corporation Limited (JPCL) became wholly owned subsidiary of NHPC on March 31, 2021 consequent upon its takeover by NHPC.
Renovation & Modernization for Life Extension (R&M LE) of two Power Stations i.e. Bairasiul Power Station (180 MW) and Loktak Power Station (105 MW) of Unit-III was commissioned in August 2021. In FY 2022-23, 320 MW Solar Project was commissioned by Solar Power Developer (SPD) out of 2000 MW. Bundelkhand Saur Urja Limited (BSUL) commissioned 26 MW capacity Solar PV Power Generation Project in Tehsil Kalpi, Uttar Pradesh in July, 2022. It commissioned 14.1 MW Devighat Hydropower Project in Nepal and 60 MW Kurichu Hydropower project in Bhutan in 2023.
NHPC Ltd
Chairman Speech
Dear Members,
It is my proud privilege to present you the 47th Annual Report of your
Company for the financial year 2022-23. On behalf of the Board of Directors and employees
of NHPC Limited, I have great pleasure in extending a warm welcome to all of you to the 47th
Annual General Meeting of your Company. The AGM is a significant event for every company
as it provides an opportunity to reflect on our accomplishments over the past year and
share our plans for the future. Your continued support and trust is a source of
inspiration and an encouragement to take NHPC to new heights. Your Company is steadily
progressing with its aim to achieve excellence in development of clean power at
international standards. We have established a strong presence in the Indian Power sector
and are constantly making efforts towards further expanding NHPC's business throughout the
Country and beyond. We grew our business and increased our profitability, which enabled us
to improve our competitiveness and create value for shareholders. We continue to implement
our mission driven strategy by efficiently operating the power stations, implementing the
projects and continuing to invest in technology, infrastructure and talent, which are the
critical inputs for the future of your Company. Year by year your Company is stepping
ahead and getting stronger.
OUTLOOK AND PERFORMANCE
India's power sector is one of the most diversified sectors in the World. Hydropower,
as a renewable energy source, plays a crucial role in our mission to mitigate the effects
of climate change and reduce our carbon footprints. Your Company has been the _ag bearer
of hydropower development in the Country and I am glad to share that NHPC is moving ahead
for development of 2,880 MW Dibang Multipurpose Project in Arunachal Pradesh, which will
be the largest hydropower project in the Country. In addition, 2000 MW Subansiri Upper HEP
and 1800 MW Kamala HEP have been allotted to NHPC by Government of Arunachal Pradesh. Your
Company is also committed for the commissioning of two mega Projects i.e. 2000 MW
Subansiri Lower HEP and 800 MW Parbati-II HEP in the present Financial Year, which will
give a quantum jump to Company's portfolio. We have also been successful in expanding our
international footprints as we have signed an MoU for three projects in Nepal i.e West
Seti (750 MW), SR-6 (450 MW) and Phukot Karnali (480 MW) HE Projects. Your Company is
having a strong visibility of future growth with 6 projects in the pipeline at different
stages of investigation or under appraisal of Government of India awaiting Techno Economic
Clearances. This includes magnanimous Siang Upper HEP having more than 10,000 MW installed
capacity. Your Company is also venturing into development of Pumped Storage Hydro Projects
and Solar Power Projects in different parts of the Country as well as exploring new
technologies such as Green Hydrogen generation and Floating Solar projects. I assure you
of phenomenal growth of your Company's profile in the years to come.
Operating Performance Overview
This year too, NHPC power stations have performed extremely well. The total cumulative
generation of all Power Stations of your Company stood at 24,907 MUs during financial year
2022-23, thus surpassing second highest annual generation ever which was achieved last
year. The Plant Availability Factor (PAF) of our plants are getting better each year and
we have recorded highest ever annual PAF of 88.75% during the financial year 2022-23. Out
of the 20 hydropower stations, 18 Power Stations have achieved their respective NAPAF
(Normative PAF).
Financial Performance Overview
Your Company continues to be financially robust and this reflects in the financial
results. I am delighted to inform that your Company has achieved highest ever annual
Profit After Tax (PAT) of ` 3833.79 Crore on standalone basis compared to ` 3537.71 Crore
in the previous financial year i.e. an increase of 8%. The total income was ` 10,150.90
crore during the financial year 2022-23. Total Comprehensive Income rose to ` 3830.42
Crore during the financial year 2022-23 from ` 3550.47 Crore in the previous financial
year. Revenue from Operations during the financial year 2022-23 was ` 9316.34 Crore.
Supported by the positive developments, your Company delivered one of the best
performances. I am pleased to inform you that the Board of Directors has recommended a
final dividend of ` 0.45 per equity share amounting to ` 452.03 Crore for the financial
year 2022-23. The Company has also paid interim dividend of ` 1.40 per equity share
amounting to ` 1406.30 Crore paid in March, 2023. The final dividend shall be paid after
your approval in the 47th Annual General Meeting. On approval, the total
dividend pay-out for the FY 2022-23 will be ` 1.85 per equity share amounting to ` 1858.33
Crore.
GREEN HYDROGEN
Green hydrogen has gained significant attention as a potential solution for
decarbonizing various sectors such as heavy industry, transportation etc. It can be used
in fuel cells to produce electricity with zero emissions, making it an attractive option
for powering vehicles, providing backup power or even supplying energy to the electrical
grid. The aim is to create a sustainable hydrogen economy that can contribute to global
decarbonization efforts and mitigate climate change.
Green Hydrogen Technology is expected to be the future of energy and is gaining
traction across the globe. Recognizing the role, green hydrogen technology will play in
future, your Company has already initiated action for undertaking development of three
Pilot Green Hydrogen Projects in Leh & Kargil Districts of UT of Ladakh and Chamba
District of Himachal Pradesh. These pilot projects will create roadmap for future
development of green hydrogen and subsequent reduction of the carbon emission in
transportation/ heating sector.
HIGHLIGHTS OF THE YEAR
In the past year, NHPC has taken up new business ventures in its continuous endeavor to
expand its presence.
Major Highlights of your Company since last AGM:
1. Signing an MoU with Vidhyut Utpadan Company Limited (VUCL), Nepal for joint
development of Phukot Karnali HE Project (480 MW) situated in Kalikot district of Karnali
Province, Nepal. The MoU was exchanged between NHPC and VUCL, Nepal in the august presence
of Shri Narendra Modi, Hon'ble Prime Minister of India and Shri Pushpa Kamal Dahal
‘Prachanda' Hon'ble Prime Minister of Nepal on 1st June, 2023.
2. Signing an MoU with Department of Energy, Government of Maharashtra for the
development of four Pumped Storage Projects namely Kalu-1150 MW, Savitri-2250 MW,
Jalond-2400 MW & Kengadi-1550 MW aggregating to 7350 MW and other Renewable Energy
Source Projects in the state.
3. Signing an MoU with Government of Odisha through GRIDCO Limited for development of
Pumped Storage Projects and Renewable Energy in the state of Odisha.
4. Successful concreting of Dam top level of EL 210 M, in all the blocks of 2000 MW
Subansiri Lower HE Project.
5. Issuance of Letter of Intent by Gujarat Urja Vikas Nigam Limited for 200 MW capacity
Solar Power Project. The project will be located within Gujarat State Electricity
Corporation Limited's Solar Park in Khavda.
6. Successfully commissioning of the entire 320 MW Solar Power Project located at
Nokhara, Bikaner (Rajasthan) on 10th December, 2022 awarded by NHPC as an
‘Intermediary Procurer'.
7. Signing a Memorandum of Agreement (MoA) on 26th September, 2022 with IIT
Jammu to promote R&D activities in the field of Science, Engineering and Technology.
8. Signing of MoU by NHPC Renewable Energy Limited (a wholly owned subsidiary of NHPC
Ltd) on 24th August, 2022 with Government of Rajasthan for "Development of
10,000 MW Ultra Mega Renewable Energy Power Park" in the state of Rajasthan.
9. Developing Flange Mounted Ultra High Frequency (UHF) Sensors for Power Transformers
in collaboration with NIT Durgapur under the "Atmanirbhar Bharat" Program.
10. Investment approval of ` 973 Crore accorded by Government of India for
pre-construction activities of Sawalkot HEP.
CORPORATE SOCIAL RESPONSIBILITY
Corporate Social Responsibility (CSR) and Sustainability are two interconnected
concepts that are crucial for an organization to address their impact on society and
environment. For a company to be socially responsible, it first needs to be accountable to
itself, its stakeholders and public. Your Company recognizes its responsibility towards
the society at large and attempts to fulfil it through a well-laid and structured CSR
& Sustainability Policy. NHPC is playing a vital role for the greater welfare of the
society year after year through its various CSR initiatives. Your Company has adopted a
Corporate Social Responsibility (CSR) Policy in compliance with the Companies Act, 2013,
as well as the Companies (Corporate Social Responsibility Policy) Amendment Rules of 2021
and 2022. The CSR initiatives of the Company includes programs on promoting Education
& Skill Development, Healthcare & Sanitation, Rural Development, Women
Empowerment, Sports, promoting & conserving Art & Culture etc. in accordance with
Schedule VII of the Companies Act, 2013.
Under the CSR Policy, your Company has signed MoU on 9th September, 2022
with Shikshan Vikas Sewa Trust for furnishing educational complex hostel building for
Scheduled Caste students at Sarkhej, Gujarat and with Seva Kiran Charitable Society for
development of Kindergarten at Vivekananda Vidyalaya in Kothamangalam, Ernakulam, Kerala.
Your Company also actively carries out the welfare activities in the area of education,
healthcare and rural infrastructure to benefit the people and society at large. As a
responsible corporate entity, during the financial year 2022-23, your Company spent `
127.31 Crore on CSR & SD activities including contribution of ` 30 crores in PM CARES
under its CSR initiatives to support the Government to fight in emergency situations.
PROACTIVE CORPORATE GOVERNANCE
Good corporate governance is about creating sustained competitive differentiation in
the market to maximize the shareholder value legally, ethically and on a sustainable basis
while ensuring fairness, transparency and accountability to every stakeholder of a company
– customers, employees, investors, vendor-partners, the government of the land and
the community. Governance is a reflection of the culture and values of a company's board
and management. Good governance in a company enhances the confidence, trust and enthusiasm
of its stakeholders. Today's market-oriented economy and globalization drive the demand
for a high quality governance practices. Corporate governance has been under scrutiny and
is an issue that has gained widespread importance.
For ensuring sound corporate governance practices, your Company always makes efforts to
ensure compliance with Corporate Governance requirements prescribed under SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 and Guidelines on Corporate
Governance for CPSEs issued by Department of Public Enterprises (DPE), Government of
India. During the financial year 2022-23, your Company's compliance with ‘DPE
Guidelines on Corporate Governance' has been rated as "Excellent" as per
‘Corporate Governance Grading System' prescribed by DPE.
REWARDS AND ACCLAIM
Your Company's efforts for an all-round growth have been recognized by the industry and
a number of prestigious awards were conferred on your Company at various platforms. Your
Company received the following honours:
1. Certificate of Appreciation and Special Commendation Award for ‘Innovative
Training Practices: 2020-21' by Indian Society for Training & Development.
2. ‘Second Prize' under ‘Rajbhasha Kirti Puruskar' in Region ‘A' by
Ministry of Home Affairs, Govt. of India, for the year 2021-22 under ‘Rajbhasha Kirti
Puruskar' scheme. NHPC received the award from Hon'ble Minister of State for Home Affairs,
Shri Nisith Pramanik during Hindi Diwas ceremony organized at Surat, Gujarat.
3. "Data Centre Champion-2022" award by Express Computer (IT business
publication of Indian Express Group) in recognition of NHPC's efforts towards building a
strong Digital India & vibrant Data Center Ecosystem.
4. Gold Medal for best presented Annual Report for financial year 2020-21
(Infrastructure & Construction Sector category) at South Asian Federation of
Accountants Awards 2021 at Kathmandu, Nepal.
5. Winner of ‘Best Globally Competitive Power Company of India – Hydropower
and Renewable Energy Sector' in PRAKASHmay ‘15th Enertia Awards 2022'.
6. 'Second Best Enterprise Award' for Mini Ratna Category from Director General, SCOPE
at WIPS (Women in Public Sector) 33rd National Meet at Kolkata.
7. "Use of Emerging Technologies Data Centre" Award at Governance Now- 9th
PSU Awards & Conference. The award has been conferred to NHPC in recognition of its
efforts towards building a strong Digital India and vibrant Data Center Ecosystem.
SINCERE APPRECIATION
I believe in NHPC and its growth potentials and I expect to witness rapid growth of
NHPC in times to come. Today, as we stand better and stronger, I am confident that with
your continued support, we will deliver sustainable performance to create value for all.
The coming year shall add new feathers in the cap of NHPC with the commissioning of two
mega Projects i.e 2000 MW Subansiri Lower HEP and 800 MW Parbati-II HEP. As I conclude, I
on behalf of the Board, thank all the stakeholders for the faith reposed in us. I would
also like to place on record, appreciation for the contribution and valuable guidance
given by my fellow Board Members. I wish to convey my deep gratitude to Government of
India, especially to the Ministry of Power as well as other Central Government Ministries
& Departments and various State Governments for their valuable guidance and
overwhelming support from time to time. I would like to express my sincere thanks to our
valued stakeholders including bankers, investors, shareholders, customers, consultants,
contractors, vendors, etc. for their belief and trust. This motivates us to excel in all
our pursuits and constantly create value for shareholders as well as for the nation. We
aim and aspire to earn your continued trust every day. On behalf of the Board, I also
appreciate the efforts made by our employees to achieve NHPC's vision and mission. We
continue to explore exciting opportunities to invest and grow as an organization and do
more for betterment and development of society and Country as well, by generating and
promoting clean and green power. I assure you that the strategies of your Company will
continue to translate into sustainable returns and gains to all stakeholders.
Warm regards,
Sd/-
(Rajeev Kumar Vishnoi)
Chairman & Managing Director
DIN: 08534217
Date: July 21, 2023
Place: Faridabad
  Â
NHPC Ltd
Company History
NHPC Ltd is a Mini-Ratna Category-I Enterprise of the Government of India. The Company is one of the largest organisations in the field of hydro power development in the country. The Company is a hydroelectric power generating company dedicated to the planning, development and implementation of an integrated and efficient network of hydroelectric projects in India. They execute all aspects of the development of hydroelectric projects, from concept to commissioning of the projects.
NHPC Ltd was incorporated on November 7, 1975 as a private limited company under the name National Hydro Electric Power Corporation Pvt Ltd. In April 2, 1986, the company was converted into a public limited company. The company was established with an objective to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects. Later, they expanded their objects to include development of power in all aspects through conventional and non-conventional sources in India and abroad.
During the year 1976-77, the company received Loktak hydroelectric project with a capacity of 105 MW from Government of India and in the next year, they received Baira Siul hydroelectric project with the capacity of 180 MW. In the year 1982-83, the company commissioned the Baira Siul power station in Himachal Pradesh.
During the year 1983-84, the company commissioned all the units Devighat power station in Nepal and Loktak power station (105 MW) in Manipur. During the next year, they set up a Hydro Power Training Institute at the Baira Siul hydroelectric project to train operators and supervisory staff.
During the year 1987-88, the company established a satellite telecommunication network up to link various projects. During the year 1989-90, the Government of India upgraded the company from a Schedule B to a Schedule A corporation. During the year 1992-93, the company set up a consultancy wing to provide a range of specialised services in the investigation, design, construction and operation of hydel projects. Also, they commissioned Tanakpur power station with the capacity of 120 MW in Uttarakhand.
During the year 1995-94, the company commissioned Chamera I power station with the capacity of 540 MW in Himachal Pradesh. Also, the company was awarded the lining work of Jawahar Tunnel in Jammu & Kashmir during the year. During the year 1995-96, they signed an agreement for execution of Kurichhu hydroelectric project with the capacity of 45 MW in Bhutan.
During the year 1997-98, the company commissioned the Uri power station with the capacity of 480 MW in Jammu & Kashmir and during the year 1999-2000, they commissioned Rangit power station with the capacity of 60 MW in Sikkim.
During the year 2000-01, the company commissioned 45 MW Kurichhu power station in Bhutan. The company entered into an MoU with Government of Madhya Pradesh to exploit the hydro electric potential of the Narmada basin by completing the Indira Sagar and Omkareshwar projects. Also they entered into an MoU with Government of Jammu & Kashmir to exploit the power potential of the state.
During the year 2003-04, the company commissioned the 300 MW Chamera- II power station in Himachal Pradesh. During the next year, NHDC, a joint venture company commissioned 1,000 MW Indira Sagar hydroelectric project in Himachal Pradesh.
During the year 2006-07, the company added 390 MW generating capacity with the commissioning of Dul Hasti Hydroelectric Project in Jammu & Kashmir. The company entered into an agreement with Government of Bhutan for preparation of DPR of Mangdechhu project with the capacity of 672 MW in Bhutan.
During the year 2007-08, the company commissioned 510 MW Teesta-V power station. NHDC, the joint venture company commissioned 520 MW Omkareshwar hydroelectric project in Madhya Pradesh. The company entered into an MoA with the Government of Arunachal Pradesh to execute the Dibang multipurpose hydroelectric project. Also, they entered into an MoU with the government of Manipur to exploit the hydro electric potential of the tailrace discharge of Loktak Downstream Hydroelectric Project.
During the year, the company signed an MoU with the Ministry of Rural Development, Government of India and Government of Bihar for construction of Rural Roads and the maintenance under Pradhan Mantri Gram Sadak Yogna in Bihar. The name of the company was changed from National Hydro Electric Power Corporation Ltd to NHPC Ltd with effect from March 28, 2008. The company was conferred with Mini-Ratna (Category I) status by the Ministry of Power with effect from April 28, 2008.
During the year 2008-09, the company entered into an MoU with the Government of Jammu & Kashmir, JKSPDC and PTC to incorporate a joint venture develop the Pakal Dul and other hydro projects in the Chenab River Basin. Also, the company along with NTPC, PFC and Tata Consultancy Services Ltd incorporated a joint venture company, namely National Power Exchange Ltd.
During the year 2009-10, the company along with NTPC, Powergrid Corporation of India Ltd and Damodar Valley Corporation incorporated a joint venture company, namely National High Power Test Laboratory Pvt Ltd.
In January 8, 2010, the company signed an agreement with Ministry of External Affairs (MEA), Government of India for taking up Additional Investigations and Preparation of Updated Detailed Project Reports for 1200 MW Tamanthi HE Project and 642 MW Shwezaya HE Project in Myanmar.
In March 23, 2010, the company has signed an agreement with Department of Energy, Royal Govt. of Bhutan for providing engineering & consultancy services relating to pre-construction activities of Mangdechhu Hydroelectric Project (720 MW) in Bhutan at a total cost of Rs 11.67 crore.
In April 28, 2010, an MoU was signed amongst NHPC Ltd, Government of Manipur and SJVN Ltd for formation of a joint venture company for implementation of 1500 MW Tipaimukh Hydroelectric (Multipurpose) Project in Manipur. NHPC Ltd, SJVN Ltd and Government of Manipur shall have a share holding of 69%, 26% and 5% respectively.
The Unit-I of SEWA-II HE Project started commercial operation with effect from June 29, 2010. Also, the SEWA-II H.E. Project (120 MW) started commercial operation with effect from July 24, 2010, consequent upon successful trial run of balance Unit-II (40 MW) of the Project.
During the year 2010-11, a joint venture company, the Loktak Downstream Hydroelectric Corporation Ltd, was formed for executing the 66 MW Loktak Downstream Project in Manipur with a 74% by the company and 26% by the Government of Manipur. The company signed a joint venture agreement with SJVN Ltd and the Government of Manipur to implement the 1,500 MW Tipaimukh Hydroelectric (multipurpose) Project in Manipur with shareholding of NHPC, SJVNL and the Government of Manipur being ratio of 69:26:5 respectively.
In September 29, 2010, the 120 MW SEWA-II Power Station (3x40) 120 MW in Jammu and Kashmir was dedicated to the nation. With the commissioning of Sewa-II, the compaby's installed capacity increased to 5,295 MW through their 14 operating power stations (including the 1,000 MW Indira Sagar and 520 MW Omkareshwar Power Stations of NHDC Ltd, a subsidiary of NHPC and the Government of Madhya Pradesh).
In March 2011, the company signed an agreement with the Department of Energy, Royal Government of Bhutan for providing engineering consultancy services for pre-construction activities at the Mangdechhu H.E. Project (720MW) in Bhutan. In May 23, 2011, the company signed a MoU with Russia's power generating Company JSC RusHydro for Cooperation on case-to-case basis in Hydropower projects in India and other countries.
In June 2011, the company incorporated a new joint venture (JV) company, namely Chenab Valley Power Projects (P) Ltd to execute Pakul Dul and other hydroelectric projects, with an aggregate installed capacity of about 2100 MW in the Chenab basin in the state of Jammu & Kashmir. The equity share capital in the Chenab Valley Power Projects shall be contributed by NHPC, Jammu and Kashmir State Power Development Corporation and PTC India in the ratio of 49:49:2 respectively. The company signed one more MoU for a joint venture company with OHPC and the Government of Orissa to implement three hydroelectric projects -SINDOL-I,II and III, with a total capacity of 320 MW on the Mahnandi river, downstream of Hirakund in Orissa.
On 4 July 2014, NHPC announced that it has commissioned all the three units of its 231 MW (77 MW x 3) Chamera-III Hydroelectric Project in Himachal Pradesh. All the three units of the project have been put on commercial operation. The project would generate 1104 million units annually in a 90% dependable year. The power generated from Chamera III will benefit the states of Himachal Pradesh, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, Haryana, Jammu & Kashmir, Delhi and Chandigarh (UT). A share of 12% of the generated energy will be given to State Government of Himachal Pradesh as free power.
On 4 July 2014, NHPC's 240 MW URI-II Power station located in Baramulla district of Jammu and Kashmir was dedicated to the nation by Prime Minister Narendra Modi.
On 12 August 2014, NHPC's Chutak Hydro Power Station (44 MW) in Jammu and Kashmir was dedicated to the nation by Prime Minister Narendra Modi. The Chutak Hydro Project is a run-off-river scheme on the river Suru, to generate 216 million units in a 90% dependable year having installed capacity of 44 MW. The first unit was commissioned on November 2012 and all the balance three units were commissioned in February 2013. It has been completed at a cost of Rs 894 crore and total power generated from this power station will be supplied to Jammu & Kashmir state.
On 17 October 2014, Promoters' Agreement was signed between NHPC and Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) for setting up a Joint Venture Company for implementation of Solar Power Projects in Uttar Pradesh. Initially this JVC proposes to implement a 50 MW grid connected Solar Power Project at Parason (Tehsil - Kalpi), District - Jalaun, Uttar Pradesh, for which MoU was signed on 8 August 2013 between UPNEDA and NHPC. This is the first solar power project of NHPC.
On 3 July 2015, a Memorandum of Understanding was signed among NHPC, the West Bengal state government and West Bengal State Electricity Distribution Company Limited (WBSEDCL) for development of four hydro projects with total capacity of 293 MW in Teesta Basin. These projects are 80 MW Teesta Low Dam-V, 81 MW Teesta Low Dam I & II combined, 84 MW Teesta Intermediate Stage, and 48 Rammam Stage-I all located in District Darjeeling of West Bengal. These projects shall be developed on Build, Own, Operate and Maintain (BOOM) basis by NHPC.
On 21 July 2016, NHPC executed Memorandum of Understanding (MoU) with Bharat Heavy Electricals (Bhel) to associate for undertaking hydropower projects in overseas markets with Bhel undertaking the electro-mechanical package and related works and NHPC undertaking civil and related works of the hydropower projects.
On 1 August 2016, NHPC achieved successful spinning of the 4th Unit of the 4x40 MW (160 MW) Teesta Low Dam-IV Hydroelectric project in Darjeeling District of West Bengal. Teesta Low Dam-IV Hydroelectric project will generate 720 million units of electricity in a 90% dependable year on commissioning of all its four units. The sole beneficiary state of this project is West Bengal.
On 8 September 2016, NHPC announced that it has signed a Contract Agreement with Bharat Heavy Electricals (Bhel) for R&M (Renovation and Modernization) of 180 MW Baira Siul Power Station, Himachal Pradesh. Baira Siul will be NHPC's first power station where R&M works will be undertaken for purpose of life extension of the generating station. Baira Siul was the first Power Station of NHPC since it began its journey towards becoming a hydro major in the country.
On 18 October 2016, NHPC's Parbati-III Power Station (520 MW) was dedicated to the nation by Prime Minister Narendra Modi. The power plant is designed to generate 1963.29 million units annually. The power generated from the Parbati-III Power Station is distributed to beneficiary states i.e. Himachal Pradesh, Jammu & Kashmir, Punjab, Uttarakhand, Uttar Pradesh, Haryana, Delhi, Rajasthan and Union Territory of Chandigarh.
On 2 November 2016, NHPC announced the commissioning its first 50 MW Wind Power Project located at Lakhmana, Jaisalmer District in Rajasthan. The project has been constructed on EPC basis with a cost of Rs 302.50 crore.
The Board of Directors of NHPC at its meeting held on 7 February 2017 approved the buy back by the company of its fully paid-up equity shares of Rs 10 each not exceeding 81.13 crore equity shares representing 7.33% of the total number of equity shares in the paid-up share capital of the company at a price of Rs 32.25 per share for an aggregate consideration not exceeding Rs 2616.59 crore through the Tender Offer route.
On 17 July 2017, NHPC announced the signing of a Power Purchase Agreement (PPA) in respect of seven power stations namely Bairasiul, Salal, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III with BSES Rajdhani Power Limited for a period of 35 years from the date of commercial operation of respective power stations.
On 9 August 2017, NHPC announced the signing of a Power Purchase Agreement (PPA) in respect of seven power stations namely Bairasiul, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III with BSES Yamuna Power Limited for a period of 35 years from the date of commercial operation of respective power stations.
The third unit (110 MW) of the Kishanganga Hydroelectric Project (3 x 110MW) of NHPC at Bandipora, Jammu & Kashmir was commissioned in March 2018.
In 2017-18, the Company commissioned a 50 MW Solar Power Project in Theni/ Dindigul District of Tamil Nadu effective on March 23, 2018. It installed roof top solar power plants at its various projects/power stations including corporate office with aggregate capacity of 860 KWp. First unit of Parbati-II H.E. Project was synchronized on part-load. Erection of all radial gates of dam was completed.
During the year 2017-18, NHPC further invested Rs 122.36 crore in CVPPPL. The shareholding of NHPC was increased to 55.39% as on March 31, 2018 and therefore, CVPPPL became subsidiary of NHPC Limited.
During the financial year 2018-19, the Company installed roof-top/ ground mounted solar power panels at its various locations having capacity of 634.7 KWp. Further, it installed 1.00 MWp Solar Power Plant at rooftop of different buildings of NHPC Residential Complex, Faridabad in June, 2019.
During the financial year 2019-20, Government of India had divested 2.38% of total paid-up Share Capital of the Company through Bharat 22 Exchange Traded Fund (ETF) in October, 2019 and CPSE ETF in February, 2020. After the divestment, holding of the Government of India in the Company was reduced at 70.95% of the total paid up capital of the Company.
During the financial year 2019-20, NHPC has taken over Lanco Teesta Hydro Power Limited (LTHPL) for the implementation of Teesta VI HE Project (500 MW) in Sikkim through Corporate Insolvency Resolution Process (CIRP) in October, 2019. It was first Central Public Sector Enterprise's takeover of a Company through CIRP. After takeover, LTHPL became wholly owned subsidiary of NHPC Limited.
Ratle Hydroelectric Power Corporation Limited, a Joint Venture Company of NHPC Limited and Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL) was incorporated on June 1, 2021 with equity participation of 51:49 respectively, for implementation of Ratle Hydro-electric Project (850 MW) in the Chenab River Basin in Union Territory of Jammu and Kashmir.
Chenab Valley Power Projects Private Limited (Earlier a Joint Venture Company of NHPC (49%), JKSPDCL (49%) and PTC (2%)) became Subsidiary Company of NHPC consequent upon taking over of 2% equity of PTC India Limited (PTC) in CVPPPL by NHPC Limited in June, 2021. Jalpower Corporation Limited (JPCL) became wholly owned subsidiary of NHPC on March 31, 2021 consequent upon its takeover by NHPC.
Renovation & Modernization for Life Extension (R&M LE) of two Power Stations i.e. Bairasiul Power Station (180 MW) and Loktak Power Station (105 MW) of Unit-III was commissioned in August 2021. In FY 2022-23, 320 MW Solar Project was commissioned by Solar Power Developer (SPD) out of 2000 MW. Bundelkhand Saur Urja Limited (BSUL) commissioned 26 MW capacity Solar PV Power Generation Project in Tehsil Kalpi, Uttar Pradesh in July, 2022. It commissioned 14.1 MW Devighat Hydropower Project in Nepal and 60 MW Kurichu Hydropower project in Bhutan in 2023.
NHPC Ltd
Directors Reports
NHPC Ltd
Company Background
| Incorporation Year | 1975 |
| Registered Office | NHPC Office Complex,Sector-33
Faridabad,Haryana-121003 |
| Telephone | 91-129-2588500/2588110,Managing Director |
| Fax | 91-129-2277941 |
RAJEEV KUMAR VISHNOIRAJEEV KUMAR VISHNOI| Company Secretary | |
| Auditor | P C Bindal & Co/K G Somani& Co. LLP |
| Face Value | 10 |
| Market Lot | 1 |
| Listing | BSE,MSEI ,NSE, |
| Registrar | Alankit Assignments Ltd
Alankit House ,4E/2 Jhandewalan Ext, ,New Delhi - 110055 |
NHPC Ltd
Company Management
| Director Name | Director Designation | Year |
|---|
| RAJEEV KUMAR VISHNOI | Chairman / Executive Director / Managing Director | 2023 |
| Yamuna Kumar Chaubey | Executive Director (Technical) | 2023 |
| Rajendra Prasad Goyal | Executive Director (Fin) & CFO | 2023 |
| BISWAJIT BASU | Executive Director- Projects | 2023 |
| Mohammad Afzal | Nominee (Govt) | 2023 |
| Uday Sakharam Nirgudkar | Independent Director | 2023 |
| Amit Kansal | Independent Director | 2023 |
| Rashmi Sharma Rawal | Independent Director | 2023 |
| Jiji Joseph | Independent Director | 2023 |
| Premkumar Goverthanan | Independent Director | 2023 |
| Uttam Lal | Director (Personnel) | 2023 |
NHPC Ltd
Listing Information
| Listing Information |
|---|
| BSE_500 |
| BSE_200 |
| BSEDOLLEX |
| BSE_PSU |
| CNX500 |
| BSEMID |
| CNXMIDCAP |
| BSEPOWER |
| CNX_PSE |
| CNX200 |
| CNXDIVIDEN |
| CNXALPHAIN |
| CPSE |
| BSEINFRA |
| BSECPSE |
| BSEALLCAP |
| BSEUTILITI |
| BSEBHARA22 |
| MID150 |
| LMI250 |
| MSL400 |
| BSEMOI |
| NFTYLM250 |
| NFTYMC150 |
| NFTYMSC400 |
| NF500M5025 |
| NFTYTOTMKT |
| NFMC150M50 |
NHPC Ltd
Finished Product
| Product Name | Unit | Installed
Capacity | Production
Quantity | Sales
Quantity | Sales
Value |
|---|
| Electrical Energy | MW | 0 | 0 | 0 | 7430.81 |
| Income from Operating Lease | NA | 0 | 0 | 0 | 666.57 |
| Power Traded | NA | 0 | 0 | 0 | 239.47 |
| Income from Finance Lease | NA | 0 | 0 | 0 | 203.65 |
| Interest from BeneficiaryState | NA | 0 | 0 | 0 | 162.74 |
| Contracts and Consultancy | NA | 0 | 0 | 0 | 27.88 |
| Rebate | NA | 0 | 0 | 0 | 12.63 |
| Income onaccount of Generation | NA | 0 | 0 | 0 | 2.53 |
| Income from Sale of Self Gener | NA | 0 | 0 | 0 | 1.76 |
| Electrical Energy | MU | 0 | 0 | 0 | 0 |
| Other Operating Income | NA | 0 | 0 | 0 | 0 |