NHPC Limited Announces Major Update on Teesta-V Power Station (510 MW)

New Delhi: NHPC recently announced a significant development on the Teesta-V (510 MW) Power Station. The PSU received the receipt of second installment of gross payment amounting to Rs 250.00 Crore under its Mega Insurance Policy. This payment addresses the Business Interruption (BI) loss incurred due to the devastating flash flood that struck the Teesta-V Power Station (510 MW) on October 4, 2023.

This information mentioned in the company's regulatory filing, which follows an earlier communication from NHPC Limited dated December 26, 2024, and is in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

 

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Background of the Incident

The Teesta-V Power Station, one of NHPC's significant projects, suffered extensive damage during the flash flood that occurred in October 2023. The flood resulted in a substantial interruption of business operations, leading NHPC to file an insurance claim under its Mega Insurance Policy.

Insurance Claim and Payout

The received payment of Rs 250.00 Crore marks the second installment under this insurance claim, providing crucial financial support for the company to manage the business interruption losses effectively. NHPC Limited continues to work diligently to restore normal operations at the Teesta-V Power Station, ensuring minimal long-term impact on its operations and stakeholders.

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NHPC Moving Forward

NHPC Limited remains committed to maintaining transparency and compliance with all regulatory requirements. The company is actively taking measures to mitigate the impacts of such unforeseen natural disasters in the future and is focused on the resilience and sustainability of its power generation assets.

This update is intended for the information and records of all stakeholders, reaffirming NHPC Limited's dedication to proactive communication and operational integrity.

For further details or inquiries, stakeholders are encouraged to reach out to NHPC Limited through the usual contact channels.

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