NHPC has also been diversifying into shorter-gestation solar projects. It commissioned its first large solar project, with a capacity of 0.6 GW, in October and has another 1.2 GW under construction. Separately, it has signed MoUs to develop around 18 GW of pumped-storage hydropower capacity across multiple states, although these are long gestation projects. Its FY27 capital expenditure target stands at ₹15,000 crore, up from ₹13,700 crore in FY26, which exceeded the company’s initial guidance.
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