The MoU is for the preparation of detailed project report (DPR) and development of two hydropower projects namely West Seti (750 MW) and Seti River 6 project (450 MW) in Nepal.

The announcement was made after market hours yesterday.

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 30 June 2022, the Government of India held 70.95% stake in the company.

The company's consolidated net profit jumped 14.5% to Rs 1,039.31 crore on a 15.2% surge in revenue from operations to Rs 2,785.14 crore in Q1 FY23 over Q1 FY22.

The scrip rose 0.72% to currently trade at Rs 34.90 on the BSE.