The memorandum of understanding (MoU) provides a framework under which the parties may collaborate and cooperate for setting up of 10 GW renewable energy parks (UMREPP)/ projects at sites identified inside Rajasthan, by optimum utilization of resources and knowledge base of both parties; they could develop the renewable energy park & projects in the areas identified; and the renewable energy projects would be developed either on EPC or developer mode by NHPC REL.

NHPC Renewable Energy is a wholly owned subsidiary company of NHPC.

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.