Homebusiness Newscompanies News

    NHPC stock jumps as subsidiary inks pact with Rajasthan for 10 GW renewable energy parks

    NHPC stock jumps as subsidiary inks pact with Rajasthan for 10 GW renewable energy parks

    NHPC stock jumps as subsidiary inks pact with Rajasthan for 10 GW renewable energy parks
    Read Time
    2 Min(s) Read
    Profile image

    By CNBCTV18.com  IST (Updated)

    Mini

    As per a regulatory filing, the energy projects would be developed either on "EPC or developer mode by NREL".

    NHPC Renewable Energy Limited (NREL) signed an agreement with the Rajasthan government on Thursday for the development of a 10 GW ultra mega renewable energy power parks.
    As per a regulatory filing, the energy projects would be developed either on "EPC or developer mode by NREL".
    The NHPC stock reacted favourably to the news of the increasing push toward renewable energy. The stock was up almost 3 percent at the time of writing at Rs 35 apiece on BSE.
    The memorandum of understanding was signed in the national capital in the presence of  Rajashtan CM Ashok Gehlot along with Bhaskar Sawant, Principal Secretary of Energy Department of Rajasthan, and Biswajit Basu, Chairman of NREL.
    NHPC Ltd had set up its renewable energy company NREL as a completely owned subsidiary earlier this year for the development of renewable energy, small hydro and green hydrogen-based business. NREL was incorporated with the Registrar of Companies, NCT of Delhi & Haryana. 
    Also Read:
    AK Singh, CMD, NHPC, at the time of launch, said, "NHPC has envisaged becoming a global leading organisation for sustainable development of clean power. The incorporation of NREL shows our deep commitment towards tapping renewable energy, which helps reduce carbon emissions and produce clean and green energy."
    "The decision to set up a subsidiary for renewable energy comes at a time when NHPC, predominantly a hydro player, plans to increase the share of renewable energy in its generation portfolio."
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng