NHPC Ltd (NHPC) plans, promotes and organizes the development of hydroelectric power plants. It produces and generates the electricity from hydro, wind and solar sources and also procures power from generating companies and sells it to Discoms and others through Power purchase agreements. NHPC also invest on various projects in under construction and under development phases. It provides consultancy and other services to customers in India and Others. NHPC operates through four business segments: Generation of electricity, Trading of power, Others and Project Management / Construction Contracts/ Consultancy assignments. As of March 31, 2023, the company incurred a capital expenditure of INR49,601 which declined 1.1% YoY.

R&D activities focus on issues and implementation of technological advances in execution and operation of hydroelectric projects. The company focuses on preventive measures against silt erosion of underwater components, the development of hydro suction, and the adoption of energy-efficient technologies. It also invests in the environment studies and social impacts of water resources and hydropower development projects. In FY2023, NHPC spent INR113 million on R&D, which as a percentage of total revenue stood at 0.1%.