Revenue Realisation / Performance

During the year under Report, your Company’s sales from operations stood at ₹ 10328.26 crore. Further, during 2025-26, total billing was ₹ 8597.06 crore (including net interest from beneficiaries) and collection was ₹ 8742.58 crore including collection on account of late payment surcharge of ₹ 27.32 crore. Total collection in financial year 2025-26 including collection from Power Trading Business was ₹ 9156.82 crore. As on March 31, 2026, the total outstanding dues of ₹ 237.14 crore were pending for more than 45 days. The outstanding amount mainly pertains to Jammu and Kashmir Power Corporation Limited, Jammu & Kashmir (115.45). Your Company is making all out efforts to liquidate the outstanding dues by continuous follow-up.

SIGNING OF POWER PURCHASE AGREEMENTS (PPAs)
 Availability of long term PPAs for our Power Stations is key to survival of organization as this gives revenue visibility for the organization and assured rate of return which can be utilized for business expansion.
 Therefore, a conscious decision in Commercial has been taken to focus on this area and execute PPAs for existing, under construction and upcoming projects for complete useful life of the projects. During the financial year NHPC has signed PPA in respect of power stations/ upcoming projects.

 

NHPC Limited was designated as a Renewable Energy Implementing Agency (REIA) by the Ministry of New and Renewable Energy on June 11, 2020. In this capacity, NHPC undertakes aggregation of power from renewable energy (RE) projects of selected developers through long-term Power Purchase Agreements (PPAs) and supplies the same to distribution licensees/consuming entities/open access consumers through back-to-back long-term Power Sale Agreements (PSAs), acting as an Intermediary Procurer. The trading margin is payable by the end procurer in accordance with applicable guidelines.

Under Phase-I, NHPC awarded 2,000 MW of solar projects, out of which capacity of 700 MW has been commissioned by FY 2024-25 and additional capacity of 651 MW has been commissioned in FY 2025-26. The balance capacity of 649 MW is targeted for commissioning during FY 2026–27.

Further, NHPC was allocated 10,000 MW of renewable energy projects under REIA mode as per the bidding calendar of MNRE for FY 2023–24. Out of this, NHPC has awarded 7,460 MW comprising 3,000 MW Solar, 3500 MW Firm and Dispatchable Renewable Energy (FDRE) and 960 MW Solar-Wind hybrid projects. Against the awarded capacity, Power Sale Agreement (PSAs) and Power Purchase Agreement (PPAs) have been executed for 5,348 MW capacity, out of which 219 MW has been commissioned during FY 2025-26 and 5,129 MW is under various stages of implementation.

Additionally, NHPC has been allocated a target of approximately 10,200 MW under REIA mode as per the MNRE bidding calendar for FY 2024–25. Against this, NHPC has awarded 13,660 MW of RE projects (including capacity under Green shoe option) comprising 4,570 MW Solar, 2,350 MW FDRE, 4340 MW Solar plus storage, and 2400 MW Solar-Wind Hybrid projects out of which Power Sale Agreement (PSAs) and Power Purchase Agreement (PPAs)have been executed for a capacity of 500 MW during FY 2025-26.

NHPC was further designated as a Battery Energy Storage System (BESS) Implementing Agency (BIA) by the Ministry of Power on October 17, 2024. In this role, NHPC is responsible for implementation of BESS projects in a time-bound manner in accordance with applicable guidelines issued by the Government of India and the appropriate regulatory commissions. A total BESS capacity of 1,500 MWh has been allocated to NHPC under the CPSU scheme with provision of Viability Gap Funding (VGF) of up to 30% of the capital cost or ₹27 lakh/MWh, whichever is lower.
The VGF is to be disbursed in five tranches linked to project milestones. NHPC has successfully issued Letters of Award (LoA) for the entire 1,500 MWh capacity, comprising 500 MWh in Kerala and 1,000 MWh in Andhra Pradesh. Corresponding Battery Energy Storage Sale Agreement (BESSA) / Battery Energy Storage Purchase Agreement (BESPA) for the full capacity have been executed during FY 2025–26. The applicable trading margin under the BIA framework shall contribute to NHPC’s revenue over the BESPA tenure.

As part of business expansion and diversification program, NHPC has ventured into Power Trading Business. Endeavour of Power Trading Business of the Company is to provide efficient and smart business solution to its clients, viz. Buyers/DISCOMs, Generators/Sellers, Utilities etc. In the year 2018-19, NHPC obtained Category-I license from CERC for interstate trading of electricity in whole of India. NHPC is registered at DEEP (Discovery of Efficient Electricity Price) e-bidding portal and has obtained trader membership in Indian Energy Exchange (IEX) and Power Exchange of India Limited (PXIL). During financial year 2024-25 NHPC has traded 1907.69 MUs with turnover of ₹ 608.09 Crore and during financial year 2025-26 NHPC has traded 1776.71 MUs with turnover of ₹ 470.04 Crore.
Further, 9.79 MU of free power from the Subansiri Lower HE Project was transacted through the power exchange, resulting in the realization of ₹4.08 crore during FY 2025-26.