NHPC Limited Sees Surge in Shares After New Project Announcement
On October 30, 2024, shares of NHPC Ltd, one of India’s leading green energy companies, surged 2.92%, reaching an intraday high of ₹82.93. This increase follows the commissioning of the 88 MW Omkareshwar Floating Solar Power Plant (FSPV) in Madhya Pradesh by its subsidiary, NHDC Limited.
Located in the Omkareshwar reservoir, this new solar project is projected to generate 204.58 million units of electricity annually, attracting significant investor interest and solidifying NHPC’s position in India’s renewable energy sector.
Understanding the Omkareshwar Floating Solar Project
NHDC successfully commissioned the full capacity of Unit-D on October 29, 2024, with an estimated project cost of ₹589.16 crore, anticipated to generate annual revenues of approximately ₹65.87 crore.
Company Stock Performance
At 1:26 PM, NHPC shares were trading at ₹82.32, up 2.17%, while the BSE Sensex dipped 0.44%. With a market capitalization of around ₹83,273.34 crore, NHPC is a prominent player in the BSE 200 index, showcasing its resilience and growth potential in the competitive energy market.
This upward trend underscores NHPC’s commitment to sustainability and its role as a key contributor to India’s green energy landscape.
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Summary at glance
On October 30, 2024, NHPC Ltd, a major player in India’s green energy sector, saw its shares increase by 2.92% following the full commissioning of its 88 MW Omkareshwar Floating Solar Power Plant in Madhya Pradesh. This project, which will generate 204.58 million units of electricity annually, is expected to boost the company’s financial performance. NHPC operates numerous power stations and has diversified into solar and wind energy, attracting significant investor interest.
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