NHPC Targets ₹15,000 Crore Capex in FY27 to Expand 8 GW Hydro Pipeline and Pumped Storage Projects
State-owned hydropower major NHPC Ltd is targeting ₹15,000 crore in capital expenditure in the current financial year, as it moves to expand its hydro and pumped storage project pipeline. The company currently has 8 GW of hydro projects under construction, with over 10 GW of capacity at the clearance stage and 1.9 GW at the survey and investigation stage, according to a presentation to investors.
NHPC is also constructing pumped storage projects (PSPs) with 17.9 GW of capacity at various stages of implementation. The company's share in India's overall installed hydroelectric capacity stands at around 17 percent, with a total operational capacity of 8,771 MW across 24 power stations, in addition to 562 MW of operational solar and wind power capacity.
NHPC's installed hydropower capacity is expected to rise nearly 59 percent to 13 GW by FY27 from the current 8.2 GW, driven by phased commissioning of four major projects, with the 2,000 MW Subansiri Lower Hydroelectric Project accounting for the bulk of the incremental capacity. The company plans to add 2,744 MW of hydropower capacity in FY27, following 2,100 MW targeted by the end of FY26. Beyond ongoing projects, NHPC intends to initiate construction of five to six new projects this year, comprising around 10,000 MW of capacity, and plans to begin construction of at least two pumped storage projects adding around 2,000 MW of capacity within the current calendar year.
The company's FY27 capex plan follows an earmarked ₹13,300 crore for FY26, of which ₹8,844 crore had been spent by December 2025. NHPC's revenue from operations increased 18.5 percent to ₹3,808.31 crore in Q1FY27 from ₹3,213.77 crore in Q1FY26, while net profit grew 4.15 percent to ₹1,178.09 crore for the quarter.