NHPC Board Approves ₹57 Billion Investment for Uri-I and Dulhasti-II Hydro Projects in J&K

State-run hydropower generator NHPC Limited approved investment proposals worth approximately ₹57.03 billion for two major hydroelectric projects in the Union Territory of Jammu & Kashmir, the company said in a regulatory filing.

The board sanctioned the investment proposal for the implementation of the 240 megawatt (MW) Uri-I Stage-II Hydroelectric Project. The filing stated the estimated cost at the completion level stands at ₹27.09 billion. This valuation includes ₹2.64 billion earmarked for Interest During Construction (IDC) and a grant component of ₹0.26 billion for enabling infrastructure. The company noted that the cost estimation considers a construction start date of March 1.

Simultaneously, the directors approved the investment proposal for the 260 MW Dulhasti Stage-II Hydroelectric Project in the Union Territory of Jammu & Kashmir. The documentation listed the completion cost at ₹29.94 billion. The financial breakdown for this project includes ₹2.89 billion for IDC and a significantly larger grant of ₹2.45 billion designated for enabling infrastructure. Consistent with the Uri expansion, the company set the start date for construction on the Dulhasti Stage-II project for March 1.

Both investment approvals remain subject to NHPC Limited signing implementation agreements with the Government of Jammu & Kashmir or the Jammu & Kashmir State Power Development Corporation (JKSPDC), alongside other requisite approvals if any.