NHPC Signs Rs 4,000-Crore MoU With Gujarat Power Corp

NHPC Ltd. has signed a Memorandum of Understanding with Gujarat Power Corp. for Rs 4,000 crore during the Vibrant Gujarat Global Summit, 2024.

The company will invest the amount in the Kuppa Pumped Storage Project in Chhota Udaipur, Gujarat, an exchange filing said on Wednesday.

The commencement of the investment will take place in FY25, the filing said.

NHPC is the largest hydropower development organisation in India. Presently, the company is diversified in multiple fields, like solar and wind energy development.

Shares of NHPC closed 0.79% lower at Rs 67.50 apiece, as compared with a 0.75% fall in the benchmark BSE Sensex.