Shares of National Hydro Power Corporation (NHPC) Ltd were trading in the green and 3% higher on 6 March after the company announced it began developing the 1,200-megawatt Jalaun Ultra Renewable Energy Power Park in Uttar Pradesh.

The aforementioned solar park will be developed by a subsidiary of the company, Bundelkhand Saur Urja, for a total investment of Rs 796.96 crore.

Earlier last week, the Prime Minister, Narendra Modi, had virtually laid the foundation stone for the park.

The park has to be completed in a period of two years, and post commissioning it will generate around 2,400 million units of electricity per annum.

The project is between the company and the Uttar Pradesh Non-Conventional Energy Development Agency.

The Ministry will provide around Rs 20 lakh per megawatt or 30% of the total project value for the development of the internal infrastructure and connectivity from the park to the closest transmission system.

At 3:30 pm, the shares of NHPC shed all their early gains and closed 1.03% lower at Rs 91.50 on NSE.