Shares of NHPC rose 6 percent on July 24 as the Arunachal Pradesh government has approved for allotment of Subansiri Upper HE Project (2000 MW) and Kamala HE Project (1800 MW) to the company.
At 12:33 pm, shares of the company were trading percent 4 higher at Rs 48.9 on the BSE.
NHPC had commenced construction work on the Subansiri Lower hydroelectric project in January 2005 after obtaining forest clearance on October 12, 2004. However, due to agitations and protests by local stakeholders, the project construction work was stalled from December 2011 to October 2019. Construction resumed on October 15, 2019, after clearance from the NGT.
Both projects were earlier allotted to private power developers.
Catch up on all LIVE stock market updates here
According to reports, KSK Energy Venture Ltd was awarded the Subansiri Upper project on March 18, 2010, and Jindal Power Ltd received the Kamala project on August 28, 2009, through the signing of memorandum of agreements (MoAs). However, there was no visible progress in either project, and the power developers were unable to undertake significant pre-construction activities.
By December 2024, all eight units of Subansiri Lower will be commissioned, RP Goyal, Director (Finance) of the miniratna PSU told Moneycontrol.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
