NHPC Limited has informed the Exchange about General Updates- Outcome of meeting of Board of Directors of NHPC Limited held on Friday, 20th February, 2026
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NHPC's Board of Directors, in a meeting held on 20th February 2026, approved two new hydroelectric investment proposals in the Union Territory of Jammu & Kashmir. The first is the Uri-I Stage-II HE Project (240 MW) at an estimated completion cost of ₹2,708.95 Crore, including ₹264.31 Crore for Interest During Construction (IDC) and a ₹26.20 Crore grant for enabling infrastructure. The second is the Dulhasti Stage-II HE Project (260 MW) at a completion cost of ₹2,993.96 Crore, including ₹289.06 Crore for IDC and ₹245.00 Crore for enabling infrastructure. Both projects have a proposed construction start date of 1st March 2026 and are subject to NHPC signing an implementation agreement with the Government of Jammu & Kashmir / JKSPDC. The combined capex commitment is approximately ₹5,702.91 Crore, adding 500 MW to NHPC's hydropower portfolio.
This is a positive development for shareholders as it signals significant capacity expansion of 500 MW in NHPC's core hydro power business, supporting long-term revenue growth. However, the projects remain subject to final implementation agreements and requisite approvals, so execution risk remains. The large capex commitment may also lead to higher debt levels in the near term.