State-run hydro power giant NHPC on Thursday said its board has approved a proposal to merge the company’s arm Jalpower Corporation Ltd with itself.
NHPC had acquired Jalpower Corporation Ltd (JPCL) and its 120 MW Rangit Stage-IV hydro power project in March 2021 through insolvency proceedings.
“Board of Directors of NHPC Ltd (Company or Transferee Company) in its meeting held on Thursday, November 10, 2022 has inter-alia approved the scheme of merger/ amalgamation of Jalpower Corporation Ltd (Transferor Company) (a wholly owned subsidiary of NHPC) with the Company,” it said in a BSE filing.
