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NHPC shuts down Sikkim power stations due to floods; Shares dip

Oct 5, 2023

By: BlinkX Research Team

The National Hydroelectric Power Corporation (NHPC) has reported the impact of floods on its power projects situated in Sikkim's Teesta Basin. Among the affected projects are NHPC's Teesta-V power stations (510 MW) and Teesta-VI HE Project (500 MW). 

In response to the emergency, NHPC has temporarily halted operations at all units of the Teesta-V power station. A detailed assessment of the losses and damages will be conducted once water levels recede. NHPC has assured that the assets and loss of profit for the power station are fully insured.

As a result of this development, NHPC Ltd's stock saw a 1.69% decrease, down 0.90 points.

Cloudbursts and flash have also caused extensive damage, with 11 bridges washed away, pipelines affected, and over 270 houses in four districts either damaged or destroyed.