NHPC stake in Chenab Valley Power Projects falls to 50.86%
NHPC has informed stock exchanges that its shareholding and voting rights in Chenab Valley Power Projects (CVPPL) have declined from 58.16% to 50.86% following an additional equity infusion by Jammu and Kashmir State Power Development Corporation (JKSPDC).
The company clarified that CVPPL will continue to remain a subsidiary of NHPC despite the reduction in stake. Details regarding the amount of additional equity contributed by JKSPDC were not disclosed in the filing.
CVPPL was incorporated on June 13, 2011, as a joint venture between NHPC and JKSPDC at the initiative of the Government of India and the Government of Jammu and Kashmir for the development of hydroelectric projects on the Chenab river basin.
The company is implementing hydroelectric projects with a combined installed capacity of 3,094 MW on a Build, Own, Operate and Maintain (BOOM) basis.
The 1,000 MW Pakal Dul Hydroelectric (HE) Project is currently under active construction. The foundation stone for the project was laid by the Prime Minister on May 19, 2018. The 624 MW Kiru HE Project is also under construction, with its foundation stone laid on February 3, 2019. Construction activities are underway for the 540 MW Kwar HE Project as well. The project’s foundation stone was laid on April 22, 2022.
In addition, the 930 MW Kirthai-II HE Project has been entrusted to CVPPL following the signing of a memorandum of understanding between the Jammu and Kashmir Power Development Department (JKPDD) and NHPC on January 3, 2021. Pending statutory clearances for the project are currently under process.
As of March 31, 2025, CVPPL’s paid-up share capital stood at Rs 5,630.01 crore, while its net worth increased to Rs 5,707.36 crore.
The featured photograph is for representation only.
