The objectives of forming joint venture company are to develop plan, promote and organize an integrated and efficient development of pumped storage hydro power projects and renewable energy (solar/floating solar/wind) projects including planning, investigation, research, design and preparation of preliminary, feasibility and detailed project report, construction, generation, operation and maintenance of power station and project, and sale of power generated from the said project.

Initially five projects namely Yaganti PSP (1000MW), Rajupalem PSP (800 MW), Gadikota PSP (1200 MW), Aravetipalli PSp (1320 MW) & Deenepalli PSP (750 MW), are considered for joint implementation and other projects subsequently identified shall be taken up as mutually agreed in future.

The company will carry on all kinds of activities relating to construction, operation and maintenance including surveys of all types environmental management, pre-feasibility reports, feasibility reports, detailed project reports, techno-economic investigations, supply of basic engineering and detailed engineering design and working drawings layouts and blue prints for construction, operation, maintenance, renovation and modernization of the projects including equipment and other assets, pertaining to the power project working , and equipment selection therein, material handling, preparation of specifications and issue of tender documents, Tender evaluation and purchase assistance of all materials and goods pertaining to such project(s), expediting, inspecting and testing, construction supervision, project management, acceptance testing and quality assurance evaluation, construction, commissioning, operation & maintenance and trading & sale of the power thus generated.

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 30 September 2024, the Government of India held a 67.40% stake in the company.

The company reported a 41.19% decline in consolidated net profit to Rs 908.97 crore in Q2 FY25 from Rs 1,545.85 crore recorded in Q2 FY24. However, revenue from operations rose 4.11% year on year (YoY) to Rs 3,051.93 crore in the quarter ended 30 September 2024.

The counter rose 0.93% to end at Rs 78.47 on 23 January 2025.