New Delhi: NHPC Limited has reported a reduction in its shareholding in Chenab Valley Power Projects Limited (CVPPL), following an additional equity infusion by its joint venture partner, Jammu & Kashmir State Power Development Corporation Limited (JKSPDCL).
The company informed stock exchanges that its stake in CVPPL has declined from 58.16% to 50.86%, as per regulatory disclosures under SEBI (LODR) norms.
Stake Dilution Due to Additional Equity Contribution
The change in ownership structure has taken place after JKSPDCL, the co-promoter in the joint venture, infused fresh capital into CVPPL.
Despite the dilution, NHPC Limited continues to remain a majority stakeholder and key promoter in the project company.
Officials clarified that the move is part of routine capital requirement adjustments as large infrastructure projects progress toward completion.
CVPPL Developing 2,164 MW Hydropower Projects in J&K
CVPPL is a joint venture between NHPC and JKSPDCL, established to develop major hydropower projects in the Chenab river basin in Jammu & Kashmir.
The company is executing three major projects:
- Pakal Dul Hydro Electric Project – 1,000 MW
- Kiru Hydro Electric Project – 624 MW
- Kwar Hydro Electric Project – 540 MW
Together, these projects form a total installed capacity of 2,164 MW under a Build, Own, Operate and Maintain (BOOM) model.
Strategic Importance for India’s Hydropower Expansion
The Chenab basin projects are part of India’s broader push to expand renewable energy capacity and strengthen regional power infrastructure.
The Pakal Dul project, the flagship scheme, is already over 66% complete and is targeted for commissioning in 2026, according to project updates.
Majority Control Retained Despite Dilution
Even after the reduction in stake, NHPC Limited retains majority control at 50.86%, ensuring continued operational influence in the joint venture.
The equity adjustment reflects increased participation from the state power utility as funding requirements rise during the advanced construction phase of the projects.
Long-Term Energy Security and Investment Push
Officials said the equity restructuring is expected to support timely completion of hydropower assets and strengthen long-term energy security in Jammu & Kashmir.
About NHPC Limited
NHPC Limited is a leading public sector enterprise under the Government of India engaged in the development and operation of hydroelectric power projects across the country. It plays a key role in expanding India’s renewable energy capacity and ensuring sustainable power generation through large-scale hydropower infrastructure projects.
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