New Delhi: State-run NHPC Limited is set to expand its installed hydropower capacity from 8.2 GW to nearly 13 GW by FY2026-27, marking a 59% increase. The company plans to add 2,100 MW by March 2026 and a further 2,744 MW in FY2026-27. This growth will be driven by the phased commissioning of four major projects, said NHPC Chairman and Managing Director Bhupender Gupta during a post-earnings conference call.
Subansiri Lower Project Leads Near-Term Capacity Addition
The 2,000 MW Subansiri Lower Hydroelectric Project is central to NHPC’s near-term expansion. Two units are already operational, with the third unit expected this week and the fourth unit by March 2026. Full commissioning of the project is expected by December 2026, contributing 1,000 MW each to NHPC’s capacity in two phases.
Other Key Projects in FY2026-27
Additional projects to be commissioned next year include:
- Rangit-IV, Sikkim: 120 MW (November 2026)
- Pakal Dul: 1,000 MW (December 2026)
- Kiru, Jammu & Kashmir: 624 MW (December 2026)
These projects will collectively contribute 2,744 MW to NHPC’s total hydropower capacity in FY2026-27.
Generation Rises Despite Lower Plant Availability
In the first nine months of FY26, NHPC generated 25,849 million units (MUs), a 15% increase compared to 22,397 MUs in the same period last year. The rise is attributed to the commissioning of the Parbati-II and Parbati-III Power Stations and increased water availability. Plant Availability Factor (PAF) stood at 79.27%, slightly lower than last year due to monsoon-related shutdowns at Dulhasti, Salal, Chamera-I, and Chamera-III.
NHPC Plans 10 GW of New Projects in FY26
Beyond ongoing expansions, NHPC aims to start construction on five to six new projects totaling approximately 10,000 MW in FY26. The company has earmarked a capital expenditure of ₹13,300 crore for FY26, with ₹8,844 crore already spent till December 2025. For FY27, the capex plan is ₹15,000 crore, indicating a significant acceleration in NHPC’s execution pipeline.
Pumped Storage Projects to Strengthen Grid Balance
NHPC is also venturing into pumped storage, planning at least two PSPs totaling 2,000 MW in 2026. Several other PSPs are in the DPR stage, including Omkareshwar (640 MW) in Madhya Pradesh, Savitri and Kalu in Maharashtra, and Masinta (1,000 MW) in Odisha. These projects, totaling 5,500–6,000 MW potential capacity, will support storage solutions in line with rising solar power integration.
Strategic Push Towards Renewable Integration
NHPC’s large-scale capacity additions and planned PSP construction highlight the company’s strategic alignment with India’s growing renewable energy needs. The new projects will not only strengthen hydropower generation but also enhance grid stability and energy storage capabilities, positioning NHPC for its largest expansion in recent years.
About NHPC
NHPC Limited, a government-owned hydropower company, is India’s leading developer of hydroelectric projects. With over 8 GW of installed capacity and multiple projects under execution, NHPC plays a crucial role in renewable energy generation and grid balancing across India.
