Himachal Pradesh Power Corporation

What Himachal Pradesh Power Corporation does

Himachal Pradesh Power Corporation Limited (HPPCL) is a state-owned power development utility incorporated in 2006 and headquartered in Shimla, India, operating under the Government of Himachal Pradesh. The company develops hydroelectric and solar power generation assets, organized across a three-phase project pipeline: Phase-I with 5 projects totaling 856 MW (including the 450 MW Shongtong Karchham HEP on the Satluj River), Phase-II with 11 projects totaling 1,373 MW (including Nakthan 460 MW and Gyspa Dam 300 MW), and Phase-III with 6 projects totaling 927 MW under preliminary survey. Commissioned capacity to date comprises Kashang Stage-I (65 MW) and Sainj HEP (100 MW), with Shongtong Karchham ~60% complete as of July 2025 and targeted for December 2026 commissioning.

HPPCL's underlying technology spans civil hydropower infrastructure (dam construction, diversion tunnels, hydro-mechanical works), electromechanical equipment supplied by ANDRITZ Hydropower India, solar PV installations with battery energy storage, and a 1-MW green hydrogen pilot developed with Oil India Limited. Two projects — Renukaji Dam (40 MW) and Gyspa Dam (300 MW) — have been declared National Projects by the Government of India with 90% central funding. The company also operates a Design/Consultancy office in Sundernagar offering third-party services (DPR preparation, detailed engineering, tender documents, construction management, environment/R&R plans, tunneling).

The business model is a regulated wholesale power producer with an effectively captive off-taker in the Himachal Pradesh State Electricity Grid. Project financing — over US$1.6 billion — is sourced from multilateral and bilateral development banks (ADB US$800 million, KfW Euro 350 million, AFD Euro 80 million, World Bank US$430 million) under concessional terms unavailable to private developers. Go-to-market is enterprise field sales via competitive EPC tendering (single-stage two-envelope bidding with e-reverse auction) and long-term power purchase agreements with state distribution companies; tariffs are determined by regulatory petitions. Operational scale is 501–1,000 employees, with an annual procurement and construction plan maintained across Civil and Electrical Contracts Cells.

Name

Himachal Pradesh Power Corporation

Legal name

Himachal Pradesh Power Corporation Limited

Website

https://hppcl.in

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Himachal Pradesh Power Corporation Limited is a state-owned utility developing hydroelectric and solar power projects across a 3,156 MW pipeline, selling bulk power to the Himachal Pradesh State Electricity Grid and funded primarily by multilateral development bank loans.

Ownership category

akta.pro rank

Product category

Hydropower Generation

NAICS

Hydroelectric Power Generation (221111), Solar Electric Power Generation (221114)

SIC

Electric Services (4911)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

Keywords

• Hydroelectric power generation
• Solar power development
• Renewable energy projects
• Green hydrogen production
• Hydropower consultancy services

Headquarters

HQ city

Shimla

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Others, Technology or R&D

Revenue model

1. Electricity Generation and Sales: HPPCL generates electricity through its hydroelectric and solar power projects and sells power to state distribution companies and grid operators. The company operates multiple commissioned projects including Kashang HEP (65 MW), Sainj HEP (100 MW), and various solar projects.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Himachal Pradesh Power Corporation Limited (HPPCL) is a state government utility that develops, owns, and operates hydroelectric and solar power generation projects in Himachal Pradesh, India. The company sells bulk electricity to state power distribution entities through Power Purchase Agreements, and is expanding into solar PV with battery storage and green hydrogen production. It also offers consultancy services for hydropower project development including DPR preparation, engineering design, and project management.

Product overview

Himachal Pradesh Power Corporation Limited (HPPCL) operates as a hydropower development corporation managing a portfolio of hydroelectric and solar power projects. The company operates multiple hydroelectric projects including commissioned projects (Sainj HEP at 100 MW, Kashang Stage-I at 65 MW, Sawra Kuddu HEP at 111 MW) and projects under development (Shongtong Karchham HEP at 450 MW, Renukaji Dam Project at 40 MW, Thana Plaun HEP at 191 MW, Nakthan HEP at 460 MW, Gyspa Dam Project at 300 MW). HPPCL also develops solar projects (Berra Dol Solar, Pekhubella SPP, Bhanjal SPP, Dabhota-I Solar with BESS) and has launched north India's first 1-MW green hydrogen plant. The company provides internal employee self-service portals and offers consultancy services for hydro project development. Funding support has been received from ADB, KfW, AFD, and World Bank.

Differentiator

Problem solved

Functional benefit

Products and services

• Integrated Kashang HEP Multi-stage hydroelectric project on the Kashang River in Kinnaur district with total capacity of 195 MW (Stage I: 65 MW, Stage II: 65 MW, Stage III: 65 MW), supplying electricity to the Himachal Pradesh state grid.
• Sainj HEP 100 MW run-of-the-river hydroelectric project on the Sainj River in Kullu district, commissioned in September 2016.
• Sawra Kuddu HEP 111 MW hydroelectric project on the Pabar River in Shimla district, part of Phase-I development portfolio.
• Shongtong Karchham HEP 450 MW hydroelectric project on the Satluj River in Kinnaur district; the largest project in HPPCL's portfolio and the flagship development with support from KfW (Euro 150 million for E&M works).
• Renukaji Dam Project HEP 40 MW hydroelectric project in Sirmour district with multi-purpose water storage for drinking water supply to National Capital Territory of Delhi in addition to power generation.
• Gyspa Dam Project 300 MW hydroelectric project in Lahaul & Spiti district with water storage component under the Indus Water Treaty.
• Thana Plaun HEP 191 MW hydroelectric project under development with KfW financing of Euro 200 million agreed for debt component.
• Nakthan HEP 460 MW hydroelectric project under development with World Bank facilitating USD 430 million debt financing.
• Berra Dol Solar Solar photovoltaic project included in HPPCL's commercial energy generation portfolio for renewable power supply.
• Pekhubella SPP 32 MW solar power project in Una district developed as part of the Rs 220-crore Pekhubela solar power initiative.
• Bhanjal SPP Solar photovoltaic project included in HPPCL's commercial energy generation portfolio for renewable power supply.
• Dabhota-I Solar Power Project 9 MW solar photovoltaic plant integrated with 3.15 MW/6.3 MWh Battery Energy Storage System (BESS) in Solan district, with 15-year comprehensive operation and maintenance services.
• Green Hydrogen Plant 1-MW green hydrogen production plant at Dabhota in Solan district, producing 423 kg of green hydrogen daily through electrolysis powered by renewable energy; developed in collaboration with Oil India Limited.
• HPPCL Consultancy Services Professional consultancy services for hydropower project development, including DPR preparation, detailed engineering design, tender document preparation, construction management, project management, contract management, environment and rehabilitation & resettlement plans, and roads and highway tunneling.

Quantifiable outcome

• 1,593.93 million units projected annual generation in 90% dependable year from Shongtong Karchham HEP

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Patel Engineering LimitedcoreImplementation/ SI/ Consulting Partner · 19 March 2026Patel Engineering Limited was awarded Package-1 of the Renuka Ji Dam Project valued at Rs 910.08 crore including GST. The contract involves constructing three major diversion tunnels with 9.5-meter diameter spanning 1.3 to 1.6 kilometers each, approximately 6 kilometers of approach and access roads, and advanced hydro-mechanical systems, to be completed within 30 months at Village Dadahu, Tehsil Renuka, District Sirmaur, Himachal Pradesh.
• Oil India LimitedcoreStrategic or Co-development Partner · 5 February 2025HPPCL collaborated with Oil India Limited for developing north India's first 1-MW green hydrogen plant at Dabhota in Solan district. The project cost is Rs 9.04 crore and will produce 423 kilograms of green hydrogen daily using renewable energy via electrolysis, supporting the state's ambition to become India's first green energy state.
• ANDRITZ Hydropower IndiacoreTechnology or Integration · 1 January 2014HPPCL placed an order with ANDRITZ Hydropower India in 2014 for complete electromechanical works for the 450 MW Shongtong Karchham Hydroelectric Project, including equipment transport to challenging landslide-prone terrain requiring road strengthening and widening.

Scale indicators14 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• JSW Energy: Diversified power and renewable energy player expanding into hydro, wind and solar; competes for state-level renewable PPAs and adjacent to HPPCL's diversification into solar and BESS.
• Adani Green Energy: India's largest listed renewable IPP with a primarily solar/wind portfolio; competes for the same state and central renewable tenders and represents the private-sector scale benchmark HPPCL benchmarks against.
• Reliance Power: Large Indian power IPP with renewable energy initiatives alongside thermal and hydro assets; broader portfolio than HPPCL but competes in the same state-discom and central tender markets.
• NTPC Limited: India's largest power generator across thermal, hydro and renewables; overlaps with HPPCL on hydro project bidding and the broader state-utility customer base, but with vastly larger capital and operational scale.
• Tata Power Company: Diversified Indian power major with material hydro, solar and wind portfolios; competes for state hydro contracts but operates at much larger scale with private-sector capital structures rather than HPPCL's state-utility model.

Direct peers

• SJVN Limited: Joint venture between Government of India and Government of Himachal Pradesh — HPPCL's own parent state — operating hydropower and renewable energy projects with directly overlapping shareholding and offtake relationships.
• THDC India Limited: Central-government hydropower and pumped-storage developer with an analogous mandate to develop and operate hydroelectric projects in India using multilateral financing and state-discom PPAs.
• NHPC Limited: India's largest central-government hydropower developer with 7,000+ MW operational; operates the same government-owned hydro IPP model as HPPCL, securing multilateral financing and selling power to state discoms under long-term PPAs.
• NEEPCO: Government-owned hydropower developer focused on Northeast India; shares the same PSU developer model, multilateral lender access, and state-discom offtake structure as HPPCL.

Emerging players

• Greenko Group: Private renewable IPP with a focus on integrated hydro-pumped storage and clean-energy complexes; intersects with HPPCL on hydro development and competes for similar renewable offtake opportunities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/HPPowerCorporation
• Xx.com/hppcl_in
• LinkedInlinkedin.com/company/himachal-pradesh-power-corporation-limited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Himachal Pradesh Power Corporation