NHPC incorporates JV with Jammu & Kashmir State Power Development Corporation

NHPC announced that it is incorporating a joint venture (JV) company, Ratle Hydroelectric Power Corporation Limited

NHPC announced that it is incorporating a joint venture (JV) company with Jammu & Kashmir State Power Development Corporation Limited (JKSPDCL). The name of the joint venture company is Ratle Hydroelectric Power Corporation Limited.  

As per the press release, the equity participation in the joint venture by NHPC and JKSPDCL is 51:49 respectively. Incorporated as of June 1, 2021, the joint venture company is for the implementation of Ratle Hydroelectric Project (850 MW) in the Chenab River Basin situated in the union territory of Jammu & Kashmir.  

NHPC Limited is an Indian government hydropower board under the ownership of the Ministry of Power, Government of India. Its main objective is to plan, promote and organise an integrated & efficient development of hydroelectric power in all aspects. NHPC’s business objectives also include other sources of energy like solar, geothermal, tidal, wind, etc.  

On Friday, the stock of NHPC Ltd closed at Rs 26.10, up by 0.58 per cent or Rs 0.15 per share. The 52-week high is Rs 27.65 per share while its 52-week low is Rs 19.50 per share on BSE.