NHPC board okays proposal to form subsidiary for renewable energy biz
State-owned hydro power giant NHPC on Friday said its board has approved the proposal to form a subsidiary for the development of renewable energy, small hydro and green hydrogen projects.
“Board of Directors of Company in its meeting held today i.e. Friday, September 24, 2021 inter-alia has considered and approved the proposal regarding the formation of a Wholly Owned Subsidiary Companyfor development of renewable energy, small hydro and green hydrogen projects, subject to the approval of Government of India,” a BSE filing said.
The board has also accorded its investment approval to contribute initial equity of Rs 20 Crore by NHPC Limited in the proposed subsidiary company, it stated.
