NHPC’s intermediary renewable portfolio reaches 19,350 MW

NHPC’s intermediary renewable portfolio reaches 19,350 MW in the presentation, combining 6,400 MW described as under construction with 12,950 MW under PPA/PSA processes. Separately, NHPC has signed battery-storage agreements for 1,500 MWh, including 15 MW/60 MWh commissioned in Kerala in October 2026.

How large is NHPC’s intermediary renewable portfolio?

NHPC’s intermediary renewable portfolio is 19,350 MW, comprising 6,400 MW under construction and 12,950 MW under PPA/PSA processes. PPA and PSA are the contracting labels used by NHPC in the presentation. The construction category consists of 2,000 MW of Rajasthan solar projects, 3,000 MW of Solar-I and 1,400 MW of firm and dispatchable round-the-clock renewable energy, or FDRE-I.

The 12,950 MW PPA/PSA category is 6,550 MW larger than the 6,400 MW construction category. It includes 3,600 MW of Solar-II and Solar-III, 2,970 MW of Solar and Wind Hybrid, 4,050 MW of FDRE-II and FDRE-III, 2,030 MW of solar with two hours of storage and 300 MW of solar with four hours of storage.

What has NHPC commissioned and contracted in these programmes?

NHPC has reported 1,601 MW commissioned across its two intermediary solar programmes with stated commissioning figures. Rajasthan projects have commissioned 1,351 MW of 2,000 MW, while Solar-I has commissioned 250 MW of 3,000 MW. Both lines have PPA and PSA signed, according to the presentation.

The Rajasthan programme has 649 MW remaining after its stated 1,351 MW commissioning figure, compared with 2,750 MW remaining in Solar-I after 250 MW was commissioned. NHPC lists PPA and PSA as signed for FDRE-I’s 1,400 MW, but does not disclose commissioned capacity for that programme.

NHPC has disclosed PPA and PSA signed for 2,618 MW within the 12,950 MW PPA/PSA category: 400 MW in Solar-II and Solar-III, 388 MW in Hybrid-I and Hybrid-II, and 1,830 MW in FDRE-II and FDRE-III. The 1,830 MW FDRE amount exceeds the combined 788 MW disclosed for the solar and hybrid lines by 1,042 MW.

For the balance capacity in those three categories, NHPC says buying-entity consent for PSA signing is under exploration or at an advanced stage, and that PPAs will follow PSAs. The 2,970 MW hybrid programme also has 250 MW of discrete solar component commissioned, while the presentation gives no commissioned-capacity figure for Solar-II and Solar-III or FDRE-II and FDRE-III.

What solar-with-storage capacity is NHPC arranging?

NHPC is arranging 2,330 MW of solar-with-storage capacity within the 12,950 MW PPA/PSA category. This consists of a 2,030 MW programme with two hours of storage and a 300 MW programme with four hours of storage; Letters of Award have been issued for both.

PPA and PSA are yet to be signed for the 2,030 MW two-hour programme. For the 300 MW four-hour programme, NHPC says PPA and PSA are to be signed and consent for PSA signing by BSHPL is being obtained. The two-hour programme represents 2,030 MW of the 2,330 MW combined capacity, while the presentation does not state an MWh storage figure for either programme.

What battery-storage agreements has NHPC signed?

NHPC has signed BESSA and BESPA, the storage-agreement labels used in the presentation, for 1,500 MWh across 500 MWh in Kerala and 1,000 MWh in Andhra Pradesh. Letters of Award were issued on 9 July 2025 for the Kerala project with KSEB and on 8 July 2025 for the Andhra Pradesh project with APTRANSCO.

NHPC commissioned 15 MW/60 MWh of the Kerala project in October 2026, leaving 440 MWh beyond the stated commissioned energy capacity within that 500 MWh tranche. Andhra Pradesh accounts for 1,000 MWh, or two-thirds of the 1,500 MWh total, and has a two-hour, two-cycle daily structure, unlike Kerala’s four-hour, single-cycle daily structure. Its stated capacity-charge range is also below Kerala’s range.

Conclusion

NHPC’s presentation shows intermediary activity across 19,350 MW of solar, hybrid, FDRE and solar-with-storage programmes, rather than only directly owned generation projects. The 12,950 MW PPA/PSA category is larger than the 6,400 MW construction category, while the separate 1,500 MWh storage agreements use energy capacity rather than generation capacity as their measure.

The next disclosed milestones are completion of the 1,000 MWh Andhra Pradesh projects by January 2027 and the 500 MWh Kerala projects by February 2027. For the 12,950 MW PPA/PSA category, the unresolved matter is buyer consent and subsequent PSA and PPA execution for balance capacity, including the 2,330 MW solar-with-storage programmes.