NHPC's RE arm signs MoU with GoR for setting up Ultra Mega Renewable Energy Power Park; stock climbs ~2%

25 Aug 2022 , 10:41 AM

NHPC Limited informed that its wholly-owned subsidiary NHPC Renewable Energy Limited has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan (GoR) for the Development of Ultra Mega Renewable Energy Power Park in the state of Rajasthan.

The company stated that this MoU establishes a framework within which the Parties may interact and cooperate to establish 10 GW RE Parks (UMREPP)/ Projects at locations designated within Rajasthan, by maximizing the exploitation of both Parties’ resources and knowledge base.

The MoU also provides for the development of RE Park & projects in the identified areas.

It also enables the development of Renewable Energy projects either on EPC or Developer mode by NHPC REL, stated the company in its filing.

At around 10.37 AM, NHPC was trading 2.21% higher at Rs34.75 against the previous close of Rs34 on the National Stock Exchange. So far, it hit intraday high and low of Rs35 and Rs34.55 respectively.

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