State-owned NHPC Limited is set to significantly expand its hydropower portfolio, aiming to increase its installed capacity from 8.2 GW to nearly 13 GW by FY2026-27, a rise of about 59%. The expansion will be driven by the phased commissioning of multiple projects and new construction initiatives, according to Chairman and Managing Director Bhupender Gupta.
The company plans to add 2,100 MW by March 2026 and a further 2,744 MW in FY2026-27. A key contributor to this near-term growth is the 2,000 MW Subansiri Lower Hydroelectric Project, where two units are already operational. Additional units are scheduled for commissioning in stages, with full completion expected by December 2026.
Other projects lined up for commissioning in FY2026-27 include Rangit-IV (120 MW) in Sikkim, Pakal Dul (1,000 MW), and Kiru (624 MW) in Jammu & Kashmir, collectively adding substantial capacity to NHPC’s generation base.
Despite some monsoon-related shutdowns at certain plants, NHPC reported a rise in generation during the first nine months of FY26, producing 25,849 million units, up 15% from the same period last year. The increase was supported by new power stations such as Parbati-II and Parbati-III and improved water availability.
Looking ahead, NHPC plans to initiate construction on five to six new projects totalling around 10 GW in FY26. The company has earmarked a capital expenditure of ₹13,300 crore for FY26 and ₹15,000 crore for FY27, indicating an accelerated execution pipeline.
NHPC is also entering the pumped storage segment to support grid stability and renewable integration. It plans at least two pumped storage projects totalling 2,000 MW in 2026, with several others under detailed study, including projects in Madhya Pradesh, Maharashtra and Odisha. These storage systems are expected to help balance variable solar power and strengthen energy reliability.
NHPC, India’s leading hydropower developer, plays a key role in renewable energy generation and grid management. The planned capacity additions mark one of the company’s largest expansion phases, aligned with the country’s broader clean energy transition.