
NHPC Limited is a state-owned Indian renewable energy and hydropower company owned by the Government of India through the Ministry of Power, which holds the majority of its equity. The company was founded in 1975 and is headquartered in Faridabad, Haryana, India. NHPC is publicly traded on the National Stock Exchange and Bombay Stock Exchange under the ticker NHPC. It was granted Navratna status in August 2024. As of May 2026, NHPC had an installed capacity of 9,333 MW across 31 power stations, comprising 8,771 MW of hydroelectric and 562 MW of solar and wind capacity.
| Brand | Parent Company | Ownership Type |
|---|---|---|
| NHPC | NHPC Limited | Wholly owned |
NHPC was incorporated in 1975 as the National Hydroelectric Power Corporation, a government-owned company tasked with developing India's hydropower resources. The founding reflected the Indian government's recognition that hydropower, a clean and dispatchable renewable source, was underdeveloped relative to the country's potential. India's river systems, particularly in the Himalayan north and the northeast, offered some of the world's largest untapped hydro resources.
The company's early decades were focused on large hydroelectric projects in the Himalayan states. NHPC developed projects in Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Sikkim, and Arunachal Pradesh, among others. These projects were technically complex, involving high-altitude construction, long water conveyance systems, and challenging geology. Construction timelines for large hydro projects routinely span a decade or more, and several NHPC projects faced significant delays due to geological surprises, environmental clearance processes, and local opposition.
The Salal hydroelectric project in Jammu and Kashmir became one of NHPC's flagship operational stations, recording the highest generation during fiscal year 2025 at 3,230 million units. The company expanded its portfolio through the 1990s and 2000s, adding projects across multiple states. NHPC also took on joint venture hydro projects, including the 2,000 MW Subansiri Lower project on the Assam-Arunachal Pradesh border, which is one of India's largest hydroelectric projects under construction.
In September 2009, NHPC completed its initial public offering, listing on the NSE and BSE. The IPO raised capital and gave the public a minority stake, while the Government of India retained majority ownership. The listing subjected NHPC to SEBI disclosure requirements and brought greater financial transparency.
Over time, NHPC broadened its mandate beyond pure hydropower. The company began developing solar and wind projects as part of India's national renewable energy expansion. As of May 2026, NHPC operated 562 MW of solar and wind capacity across seven stations, with significant additional renewable capacity under construction. The company commissioned 107 MW of a 300 MW solar power plant in Bikaner, Rajasthan, in April 2025 under the Central Public Sector Undertaking scheme.
NHPC's total installed capacity reached 9,333 MW as of May 2026, across 31 power stations, comprising 8,771 MW of hydroelectric and 562 MW of renewable energy. The company is presently engaged in the construction of projects aggregating to over 10,000 MW, and is working on more than 50,000 MW of capacity in various stages of development. NHPC leads approximately 60 percent of all hydro projects under construction in India. Its flagship under-construction projects include the 2,000 MW Subansiri Lower and the 2,880 MW Dibang multipurpose project, the latter also designed for flood moderation.
Who owns NHPC?
NHPC Limited is a state-owned public sector undertaking. The Government of India holds approximately 71% of the company's shares through the Ministry of Power. State governments also hold a small portion of the promoter shares. The remaining approximately 29% is held by public shareholders, including foreign institutional investors, domestic institutional investors, and individual investors. NHPC is classified as a Navratna enterprise.
Is NHPC publicly traded?
Yes, NHPC is publicly traded on the National Stock Exchange of India (NSE: NHPC) and the Bombay Stock Exchange (BSE: 533098). The company was listed in September 2009 through an initial public offering in which the Government of India divested a portion of its stake. The company's market capitalization is approximately INR 83,000 crore as of late 2025.
When was NHPC founded?
NHPC was incorporated on November 7, 1975, as National Hydroelectric Power Corporation Limited. The company was established by the Government of India under the Ministry of Power to plan, promote, and organize the integrated development of hydroelectric power across India. On incorporation, NHPC took over three hydroelectric projects from the Central Hydroelectric Projects Control Board.
What is NHPC's installed capacity?
NHPC has approximately 7,144 MW of total installed capacity, primarily from hydropower. The company operates 22 hydroelectric projects with approximately 6,717 MW on an ownership basis, plus a 50 MW wind project in Rajasthan and solar projects including the 107.14 MW Karnisar solar plant. The commissioning of the 800 MW Parbati-II project in April 2025 brought total capacity to approximately 8,000 MW. NHPC is constructing projects totaling approximately 10,493 MW.
What is NHPC's revenue?
NHPC reported total income of approximately INR 117.29 billion for fiscal year 2025, up 6.69% from INR 109.94 billion in fiscal year 2024. Revenue from operations was INR 89.94 billion. Standalone net profit was INR 34.12 billion, down 14.68% from the prior year due to one-time provisions and arbitration-related expenses. The company's fiscal year ends March 31.
What are NHPC's main projects under construction?
NHPC is engaged in the construction of projects totaling approximately 10,493 MW. The flagship project is the 2,000 MW Subansiri Lower hydroelectric project in Assam and Arunachal Pradesh, one of India's largest hydroelectric projects. The 2,880 MW Dibang Multi-purpose project in Arunachal Pradesh is also under development. NHPC leads approximately 60% of all hydro projects under construction in India and is working on more than 50,000 MW of capacity in various stages of development.
What is NHPC's target capacity?
NHPC has set targets of 23,000 MW of installed capacity by 2032 and 50,000 MW by 2047. This trajectory would place NHPC among the world's top 10 hydropower companies. The company is expanding into solar and wind energy through its subsidiary NHPC Renewable Energy Limited to diversify beyond pure hydropower and align with the Government of India's clean energy transition objectives.
NHPC's core business is generating renewable electricity from hydroelectric, solar, and wind sources. Hydropower is a low-carbon, dispatchable renewable resource that displaces fossil fuel generation and supports grid stability. The company describes itself as a green energy company with minimal carbon footprints. NHPC publishes an annual sustainability report and aligns its operations with national clean energy goals.
Large hydroelectric projects, however, carry environmental and social trade-offs that are well documented. Dam construction alters river flows, affects aquatic ecosystems, and can displace communities. NHPC's projects in the Himalayas have faced environmental scrutiny over impact on riverine ecology, forest land, and downstream communities. The Subansiri Lower project, in particular, faced years of delays partly due to local opposition in Assam over downstream impact. Environmental clearance from the Ministry of Environment, Forest and Climate Change is required for large hydro projects, and NHPC's projects undergo environmental impact assessment and public consultation.
NHPC states it follows statutory rehabilitation and resettlement processes for communities affected by its projects. The company's solar and wind expansion has a lighter environmental footprint than large hydro, though land acquisition for utility-scale solar remains a consideration. NHPC is not B Corp certified. Its sustainability claims rest on the inherent low-carbon nature of its generation portfolio and its alignment with national renewable energy policy.
NHPC has received recognition from the Indian government and power sector bodies for its contribution to hydropower development. The grant of Navratna status in August 2024 is itself a government recognition of consistent financial and operational performance. NHPC has been ranked among India's leading public sector undertakings in the power sector.
The Subansiri Lower and Dibang projects have received coverage in Indian infrastructure media as landmark hydroelectric developments. NHPC's Salal station was recognized as the highest-generating hydro station in the company's portfolio during fiscal year 2025. Specific independently verifiable third-party awards attributed to NHPC are not comprehensively documented in a single public source as of August 2026.
NHPC has not faced product recalls, as it does not manufacture consumer products. The company has, however, encountered environmental and social controversies typical of large hydroelectric developers.
Subansiri Lower project delays and opposition: The 2,000 MW Subansiri Lower project on the Assam-Arunachal Pradesh border has faced years of delays, partly due to local opposition in Assam over downstream ecological and hydrological impact. Concerns included altered river flow, impact on agriculture and fisheries, and seismic risk. Construction was suspended for a period before resuming after environmental review and engagement with state governments. The project remains one of India's most scrutinized hydro developments.
Environmental impact of Himalayan hydro: NHPC's hydro projects in the Himalayas have drawn environmental scrutiny over deforestation, river flow alteration, and seismic risk in a geologically young and active mountain range. Environmental groups have raised concerns about cumulative impact of multiple hydro projects on Himalayan river systems. NHPC's projects undergo environmental impact assessment and require clearance from the Ministry of Environment, Forest and Climate Change.
Dibang multipurpose project: The 2,880 MW Dibang project in Arunachal Pradesh has faced concerns over its impact on forest land and indigenous communities. The project is designed for both power generation and flood moderation, which the company presents as a broader public benefit. Environmental clearance processes have been extensive.
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| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Jsw Group | India | 1994 | Mass market | Asia pacific | All Genders | |
| Adani Group | India | 2015 | Mass market | India | All Genders | |
| Ntpc | India | 2022 | Mass market | Asia pacific | All Genders | |
| Renew Energy Global | India | 2011 | Mass market | Asia pacific | All Genders | |
| Tata Power | India | 2007 | Mass market | Asia pacific | All Genders |
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