NHPC surges after signing MoU for hydropower projects in J&K

NHPC Limited has signed a memorandum of understanding (MoU) with Jammu & Kashmir State Power Development Corporation Limited (JKSPDCL) for the execution of Kirthai-11 (930 MW), Sawalkot (1,856 MW), Uri-I (stage-II) (240 MW), Dulhasti (stage- II) (258 MW), and hydropower projects in the union territory of Jammu & Kashmir. 

The 930 MW Kirthai-11 projects shall be executed by Chenab Valley Power Projects Private Ltd, which is a joint venture company of NHPC Limited, JKSPDCL & PTC India Ltd, on the same terms & conditions as have been agreed for Pakaldul, Kiru, and Kwar HEPs. 

Sawalkot (1,856 MW), Uri-I (stage-II) (240 MW) and Dulhasti (stage-II) (258 MW) projects shall be executed by NHPC on a BOOT basis for a period of 40 years. The projects will be handed over back to the government of Jammu & Kashmir after 40 years of commercial operation with specified generation capacity and free from all encumbrances. 

NHPC and JKSPDCL shall also explore the possibility of developing the renewable energy potential of J&K including solar, wind and small hydro projects either by expanding the scope of existing joint venture companies or by creating a new joint venture company. NHPC shall support POD and its unbundled corporations and JKSPDCL with assistance & consultancy in project management (PMC) & monitoring, and related aspects including power trading. 

With this, the stock of NHPC was trading higher by 7.1 per cent to Rs 24.75 from its previous close of Rs 23.10 on BSE. It got closed at Rs 24.60.