Faridabad — NHPC Limited has signed a major implementation agreement with Jammu & Kashmir State Power Development Corporation Limited to develop two large hydroelectric projects totaling 500 megawatts (MW) in the Union Territory of Jammu and Kashmir.
The agreement, finalized on March 27 in Jammu, marks a significant milestone in India’s push to expand renewable energy capacity and strengthen regional power infrastructure.
Project Breakdown
The agreement covers the development of two key hydropower projects:
- 240 MW Uri-I Stage-II Hydroelectric Project
- 260 MW Dulhasti Stage-II Hydroelectric Project
Both projects will be executed by NHPC under a BOOT (Build-Own-Operate-Transfer) model, with a concession period of 40 years. Under this structure, NHPC will build, own, and operate the projects before eventually transferring them back to the government.
Strategic Importance
The projects are expected to substantially boost electricity generation capacity in Jammu & Kashmir, a region with vast untapped hydropower potential. Once completed, they will:
- Strengthen the regional and national power grid
- Improve energy reliability and access
- Support India’s transition toward cleaner, renewable energy sources
Beyond energy generation, the projects are also likely to stimulate local economic development, create employment opportunities, and enhance infrastructure in the region.
Regulatory Disclosure
NHPC disclosed the agreement through regulatory filings with the Bombay Stock Exchange and the National Stock Exchange of India, noting that this development follows its earlier announcement made on February 20, 2026.
About NHPC
NHPC Limited is a Schedule ‘A’ public sector enterprise under the Government of India and is widely regarded as the country’s leading hydropower developer. The company is involved in the construction and operation of hydroelectric projects nationwide and is increasingly expanding into other renewable segments such as solar and wind energy.
Outlook
With this agreement, NHPC continues to strengthen its position as a key driver of India’s renewable energy expansion. The Uri-I Stage-II and Dulhasti Stage-II projects are expected to play a crucial role in meeting rising electricity demand while advancing sustainable energy goals in one of India’s most strategically important regions.