RENEWABLE ENERGY

NHPC plans to expand solar and wind power portfolio

State-run NHPC Ltd plans to expand its solar and wind power portfolio across the country as part of its green energy playbook. State-run firms are pivoting towards solar and wind energy and investing in India’s green economy in the backdrop of a change in the global energy architecture.

There is going interest from public sector units in solar and wind space. A case in point being state-run Gail (India) Ltd’s focus on building a clean energy portfolio by participating in competitive bids and acquiring solar projects from private firms.

“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,” AK Singh, chairman and managing director of the state-run firm said in a statement on Thursday.

This comes in the backdrop of India’s largest hydropower firm reporting the highest net profit of ₹3,233.37 crore in the last financial year on a standalone basis, a 7.52% increase over ₹3,007.17 crore recorded in 2020-21.

“Revenue from operation for the FY 2020-21 stood at ₹8506.58 crore compared to ₹8735.15 crore in the last fiscal year. Consolidated net profit for 2020-21 stood at ₹3582.13 crore,

Source
Livemint
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