NHPC rose 1.49% to Rs 20.40 after the company said it inked an MoU with Green Energy Development Corporation of Odisha for developing floating solar energy projects in the state.
NHPC has signed a memorandum of understanding (MOU) with Green Energy Development Corporation of Odisha (GEDCOL), a leading State PSU in the renewable energy sector, for development of 500 megawatts (MW) floating solar projects in Odisha under ultra mega renewable energy power parks (UMREPP).The parties also agreed to explore further potential of installing floating solar projects after joint identification in subsequent periods in Odisha, it added.
NHPC is engaged in electric power generation by hydroelectric power plants. The firm is also engaged in contracts, project management and consultancy works.
As of 31 March 2020, the Government of India held 70.95% stake in the company.
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