NHPC's 9,242 MW Hydro Pipeline Awaits Key Clearances

In its H1 FY 26-27 project update, NHPC listed 9,242 MW of hydroelectric projects under clearance with stated costs of Rs 1,17,438.84 crore, led by the 3,097 MW Etalin project. Etalin still required forest clearance stage II and completion of the central public-investment review disclosed by NHPC.

What makes up NHPC's 9,242 MW clearance pipeline?

NHPC's clearance-stage pipeline comprises six projects with 36,284.00 million units (MU) of design energy. The portfolio includes 2,820 MW directly under NHPC, designated Total A, and 6,422 MW in subsidiary projects, designated Total B. Total A has stated costs of Rs 36,736.66 crore, compared with Rs 80,702.18 crore for Total B.

The subsidiary portfolio is larger by 3,602 MW and contains the three Arunachal Pradesh projects: 1,720 MW Kamala, 1,605 MW Subansiri Upper and 3,097 MW Etalin. Their combined design energy is 25,261.90 MU. Direct NHPC projects comprise 520 MW Teesta-IV in Sikkim, 500 MW Dugar in Himachal Pradesh and 1,800 MW Sawalkot in the Union Territory of Jammu and Kashmir.

The clearance pipeline is separate from NHPC's 7,764 MW hydro projects under construction. Those construction projects had an anticipated cost of Rs 1,06,820.53 crore and provisional expenditure of Rs 58,277.04 crore through September 2026. The clearance portfolio is therefore 1,478 MW larger in capacity, but NHPC does not classify it as under construction.

Which projects have progressed furthest toward implementation?

Kamala has the clearest disclosed central investment decision: the Cabinet Committee on Economic Affairs approved the 1,720 MW project's investment proposal of Rs 26,069.50 crore on 22 April 2026. The Central Electricity Authority (CEA) concurred with its detailed project report on 23 May 2025, and its no-objection certificate and defence clearance were issued on 28 March 2025.

Kamala nevertheless has remaining execution steps. Land acquisition is being undertaken with the Arunachal Pradesh state administration, while the district administration is finalising the cost of land and assets. NHPC also says Kamala will be executed through a joint venture company to be formed with the Government of Arunachal Pradesh; the Expert Appraisal Committee recommended environmental clearance on 11 February 2026.

Sawalkot, with 1,800 MW capacity and a stated completion cost of Rs 26,373.66 crore, has received forest clearance stage I, defence clearance and environmental clearance. The Ministry of Environment, Forest and Climate Change granted the forest clearance on 10 July 2025 and environmental clearance on 17 November 2025, while the Ministry of Defence granted clearance on 22 July 2025.

The Public Investment Board (PIB) considered Sawalkot's implementation on 6 October 2026 and recommended the proposal with certain conditions. The CEA extended appraisal validity to 17 April 2027 on 8 July 2026. Unlike Kamala, Sawalkot had not received the Cabinet Committee on Economic Affairs investment approval disclosed for Kamala, while NHPC provided no commissioning schedule for either project.

What approvals does Etalin still need before execution?

Etalin still needs forest clearance stage II and completion of the PIB process before it can advance beyond the disclosed clearance stage. The 3,097 MW Arunachal Pradesh project has 12,260.43 MU of design energy and a stated completion cost of Rs 30,037.36 crore, making it the largest single project in NHPC's 9,242 MW clearance portfolio.

NHPC says Etalin has the necessary TEC concurrence, defence clearance, Forest Rights Act, 2006 clearance and environmental clearance, except for forest clearance stage II. The Ministry of Defence transferred the project's defence clearance or no-objection certificate into NHPC's name on 5 February 2026. The Ministry of Power assigned the project to NHPC on 11 November 2025.

NHPC signed a memorandum of agreement with the Government of Arunachal Pradesh on 16 June 2026 to execute Etalin. The project was previously allotted to Etalin Hydro Electric Power Company Limited in December 2008, and the Ministry of Power indicated it to SJVNL Ltd. for study and possible allotment in December 2021.

The Ministry of Power circulated a draft PIB memorandum for Rs 30,037.36 crore on 9 April 2026. NHPC submitted a revised memorandum incorporating comments from agencies and departments on 2 July 2026, and the Ministry of Power was examining it when the presentation was prepared. This leaves the investment-review outcome unresolved despite the June 2026 execution agreement.

What are the remaining barriers at Teesta-IV, Dugar and Subansiri Upper?

Teesta-IV's principal outstanding statutory item is forest clearance stage II. The 520 MW Sikkim project has received all other statutory clearances, and the CEA extended the validity of its concurrence to 12 May 2027. Sikkim's Power Department requested a current development roadmap from NHPC on 16 July 2026 and again on 28 August 2026.

Dugar, a 500 MW Himachal Pradesh project with stated costs of Rs 4,250 crore, has defence clearance valid to 10 May 2027 and inland water transport clearance dated 1 May 2023. Forest clearance remains in progress, while the CEA extended concurrence for two years to 25 April 2027. NHPC has also filed a writ petition in the High Court of Shimla over withdrawal of concessions cited in the implementation agreement; the matter is sub-judice.

Subansiri Upper is awaiting CEA consideration of its technical evaluation committee process after NHPC submitted its detailed project report on 9 May 2025 and an authority meeting was held on 16 December 2025. The 1,605 MW project has design energy of 6,131.55 MU. NHPC is pursuing a State Goods and Services Tax waiver with Arunachal Pradesh and arranging concessional loan financing as advised by the CEA.

Subansiri Upper received defence clearance on 2 April 2025, and the Arunachal Pradesh government recommended its forest proposal to the Ministry of Environment, Forest and Climate Change on 19 September 2025. Its public hearing was completed on 24 March 2026. Across the six projects, the disclosed constraints therefore range from forest approvals and court proceedings to land valuation, financing, joint-venture formation and central investment review.

Conclusion

NHPC's 9,242 MW clearance pipeline represents a larger potential hydro capacity pool than its 7,764 MW construction portfolio, but its projects are at different decision points. Etalin accounts for 3,097 MW and Rs 30,037.36 crore of stated cost, while Kamala has a 22 April 2026 investment approval and Sawalkot has a 6 October 2026 PIB recommendation subject to conditions.

The next disclosed matters to watch are the Ministry of Power's examination of Etalin's revised PIB memorandum submitted on 2 July 2026, forest clearance stage II for Etalin and Teesta-IV, and CEA validity dates of 12 May 2027 for Teesta-IV, 25 April 2027 for Dugar and 17 April 2027 for Sawalkot. Kamala's stated next implementation actions are land-cost finalisation and formation of its proposed Arunachal Pradesh joint venture.