NHPC Begins Commercial Operations of Phase-III at Karnisar Solar Project in Bikaner

9 Jun 2025 , 11:36 AM

NHPC Ltd., the state-run power utility, is back in the spotlight following a key update from its solar portfolio. The company announced that it has started commercial operations for another portion of its Karnisar Solar Power Project in Bikaner, Rajasthan.

The newly commissioned segment part of the project’s third phase has added 53.57 MW to the plant’s capacity and became operational on June 7, 2025.

According to NHPC’s filing with the stock exchange on June 8, the third phase had successfully completed its trial run on June 5, clearing the way for commercial rollout. With this, the total operational capacity of the Karnisar project now stands at 160.71 MW, just over halfway toward the total planned 300 MW.

The solar project is part of NHPC’s broader shift towards clean energy, a diversification effort beyond its traditional hydropower base. Earlier this year, in April 2025, the company had signaled its intent to raise ₹2,000 crore via private placement of bonds to fund renewable energy expansion and other capital needs.

On the earnings front, NHPC closed the fourth quarter of FY25 with a strong performance.

• Net profit rose by 52% year-on-year, reaching ₹919.63 crore, compared to ₹605 crore in the same period a year earlier.
• Total income for the quarter also improved, standing at ₹2,672.11 crore, driven by steady project execution and healthy electricity output.

Over the last month, the stock has appreciated by ₹13.93, translating into an 17.87% gain, supported by operational progress and earnings momentum. With the Karnisar project steadily advancing and capital raising plans on the table, NHPC appears to be reinforcing its clean energy roadmap while delivering consistent returns.

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