New Delhi: NHPC Limited on Tuesday signed an initial pact with Bharat Electronics Limited (BEL) to set up a large capacity solar equipment manufacturing facility.

"A Memorandum of Understanding (MoU) has been signed between NHPC and BEL…for setting up of gigawatt-scale vertically integrated solar manufacturing unit," a BSE filing said.

The MoU was signed by Biswajit Basu, Director (Projects), NHPC and Vinay Kumar Katyal, Director (Bangalore Complex), BEL.

State-owned hydro power giant NHPC has an installation base of 7071.2 MW from 24 power stations including two projects in JV mode.

It is engaged in the construction of 11 projects aggregating to a total installed capacity of 7,539 MW.

During 2021-22, NHPC power stations achieved generation of 24,855 MU (million units).

Last fiscal, NHPC reported Rs 8,181 crore as income from sale of power with a net profit of Rs 3,538 crore.

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