New Delhi [India]June 6 (ANI): State-owned hydro power company NHPC Limited has entered into a Memorandum of Understanding (MoU) with the Government of Maharashtra for setting up energy storage systems with total renewable energy sources (Solar/Wind/Hybrid). 7,350 MW capacity, it informed the stock exchanges on Tuesday.
Other details including financial considerations and timeline of the project were not mentioned in the stock filing.
NHPC is the largest hydropower development organization in India, which has the capability to undertake all activities in hydro-related projects. NHPC has also diversified into solar and wind energy.
In late May, it declared its earnings for the financial year 2022-23. It reported a 10 per cent increase in consolidated net profit for 2022-23 at Rs 3,890 crore as compared to Rs 3,524 crore in 2021-22.
NHPC Power Stations achieved a generation of 24,907 Million Units (MU) of electricity during the financial year.
Besides this, the board of directors of the state-owned company recommended a final dividend of Rs 0.45 per share for the financial year 2022-23. This is in addition to an interim dividend of Rs 1.40 per share. Accordingly, the total dividend for 2022-23 is Rs 1.85 per share. A dividend is a reward that companies often provide to their shareholders from a portion of their earnings, although not mandatory.
NHPC currently has an installed capacity of 7097.2 MW from 25 power stations and is currently under construction of 16 projects with a total installed capacity of 10489 MW.
In this, 12 projects with a total capacity of 5882 MW are also under approval stage and two projects with a total capacity of 890 MW are under survey and investigation stage. (ANI)
This report has been auto generated from ANI News Service. ThePrint is not responsible for its content.